SSAB (OTCMKTS:SSAAY) Shares Up 10.6% – What’s Next?

Shares of SSAB (OTCMKTS:SSAAY) shot up 10.6% during trading on Wednesday . The stock traded as high as $4.4250 and last traded at $4.4250. 1,500 shares were traded during trading, a decline of 22% from the average session volume of 1,918 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

SSAAY has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Thursday, January 29th. Citigroup reissued a “buy” rating on shares of SSAB in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, SSAB has an average rating of “Moderate Buy”.

SSAB Stock Performance

The company’s 50-day moving average price is $4.20 and its 200 day moving average price is $3.78. The stock has a market capitalization of $8.82 billion, a PE ratio of 17.70 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48.

SSAB (OTCMKTS:SSAAY) last released 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 firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.76 billion. SSAB had a net margin of 5.10% and a return on equity of 7.29%. On average, equities research analysts expect that SSAB will post 0.24 earnings per share for the current fiscal year.

SSAB Company Profile

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.