Sims Metal Management (OTCMKTS:SMSMY) Sees Unusually-High Trading Volume – Here’s What Happened

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw an uptick in trading volume on Thursday . Approximately 8,217 shares traded hands during trading, an increase of 71% from the previous session’s volume of 4,801 shares.The stock last traded at $16.27 and had previously closed at $16.90.

Analysts Set New Price Targets

A number of brokerages have issued reports on SMSMY. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The company has a fifty day moving average of $18.52 and a 200-day moving average of $16.27. The company has a quick ratio of 0.95, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

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.