Sims Metal Management Ltd. (OTCMKTS:SMSMY) Short Interest Down 58.3% in June

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 1,033 shares, a decrease of 58.3% from the June 15th total of 2,477 shares. Based on an average daily volume of 5,178 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SMSMY shares. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. Finally, Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Sims Metal Management currently has a consensus rating of “Hold”.

Sims Metal Management Price Performance

SMSMY opened at $17.51 on Wednesday. The stock’s 50-day moving average price is $18.01 and its 200 day moving average price is $15.33. Sims Metal Management has a 12-month low of $8.16 and a 12-month high of $21.35.

About Sims Metal Management

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.