Sims Metal Management Ltd. (OTCMKTS:SMSMY) Sees Significant Decrease in Short Interest

Sims Metal Management Ltd. (OTCMKTS:SMSMY) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 1 shares, a decline of 99.9% from the April 30th total of 794 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 2,683 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

SMSMY has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. Zacks Research downgraded Sims Metal Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Sims Metal Management Stock Down 0.1%

SMSMY stock traded down $0.03 during trading on Wednesday, reaching $17.45. 1,980 shares of the stock were exchanged, compared to its average volume of 1,533. The firm’s 50 day moving average is $14.57 and its 200 day moving average is $13.42. Sims Metal Management has a twelve month low of $8.16 and a twelve month high of $17.75.

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.