Sims Metal Management Ltd. (OTCMKTS:SMSMY) Short Interest Up 2,281.7% in June

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totaling 2,477 shares, an increase of 2,281.7% from the May 31st total of 104 shares. Based on an average trading volume of 7,967 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the company’s shares are short sold.

Analyst Ratings Changes

A number of brokerages have issued reports on SMSMY. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Sims Metal Management Price Performance

SMSMY stock traded down $0.29 during mid-day trading on Friday, reaching $19.23. The company had a trading volume of 436 shares, compared to its average volume of 3,389. The firm has a fifty day simple moving average of $17.13 and a 200 day simple moving average of $14.81. Sims Metal Management has a fifty-two week low of $8.16 and a fifty-two week 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.