SSAB (OTCMKTS:SSAAY) Shares Gap Up – Should You Buy?

SSAB (OTCMKTS:SSAAY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.40, but opened at $5.5698. SSAB shares last traded at $5.5698, with a volume of 205 shares.

Analyst Ratings Changes

Several research analysts recently commented on SSAAY shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Citigroup restated a “buy” rating on shares of SSAB in a report on Monday, July 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, SSAB currently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The business’s 50-day moving average price is $5.20 and its 200 day moving average price is $4.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 18.25 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. The business had revenue of $2.94 billion during the quarter. On average, equities analysts forecast that SSAB will post 0.39 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.