SSAB (OTCMKTS:SSAAY) Shares Gap Down – Should You Sell?

SSAB (OTCMKTS:SSAAY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.25, but opened at $3.67. SSAB shares last traded at $3.67, with a volume of 2,009 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SSAAY shares. Citigroup reaffirmed a “buy” rating on shares of SSAB in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The business’s 50-day simple moving average is $4.24 and its two-hundred day simple moving average is $3.70. The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 15.14 and a beta of 1.33.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.76 billion. SSAB had a net margin of 5.10% and a return on equity of 7.29%. As a group, sell-side analysts expect that SSAB will post 0.24 earnings per share 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.