Short Interest in SSAB (OTCMKTS:SSAAY) Declines By 95.4%

SSAB (OTCMKTS:SSAAY) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 47 shares, a decrease of 95.4% from the May 31st total of 1,013 shares. Based on an average trading volume of 830 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SSAAY shares. Morgan Stanley upgraded shares of SSAB from an “overweight” rating to an “overweight” rating in a research note on Tuesday, May 5th. Citigroup reiterated a “buy” rating on shares of SSAB in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a report on Monday, April 13th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, SSAB presently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

Shares of OTCMKTS SSAAY traded down $0.47 during midday trading on Friday, hitting $4.70. The company’s stock had a trading volume of 351 shares, compared to its average volume of 232. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 16.21 and a beta of 1.40. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $4.89 and a 200 day moving average price of $4.37. SSAB has a one year low of $2.80 and a one year high of $5.30.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The business had revenue of $2.77 billion during the quarter. On average, research analysts forecast that SSAB will post 0.38 EPS for the current fiscal year.

About SSAB

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.