SSAB (OTCMKTS:SSAAY) Short Interest Up 2,614.9% in June

SSAB (OTCMKTS:SSAAY) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 1,276 shares, an increase of 2,614.9% from the June 15th total of 47 shares. Based on an average daily trading volume, of 462 shares, the short-interest ratio is currently 2.8 days. Currently, 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research firms have recently weighed in on SSAAY. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Tuesday. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research report on Monday, June 29th. Finally, Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

OTCMKTS:SSAAY remained flat at $4.83 during trading hours on Friday. The company’s stock had a trading volume of 78 shares, compared to its average volume of 222. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $4.95 and its 200-day moving average price is $4.45. The firm has a market capitalization of $9.63 billion, a P/E ratio of 16.66 and a beta of 1.43. SSAB has a 12 month low of $2.80 and a 12 month high of $5.30.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The firm had revenue of $2.77 billion during the quarter. On average, analysts forecast that SSAB will post 0.38 earnings per share for the current 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.