Sims Metal Management Ltd. (OTCMKTS:SMSMY) Short Interest Down 87.9% in August

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 291 shares, a drop of 87.9% from the July 30th total of 2,399 shares. Based on an average daily volume of 1,401 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Sims Metal Management Price Performance

Sims Metal Management stock opened at $17.66 on Wednesday. The stock’s 50-day moving average is $18.24 and its 200-day moving average is $16.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 1.51. Sims Metal Management has a 12 month low of $8.16 and a 12 month high of $21.35.

Sims Metal Management Company Profile

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.