Sims Metal Management (OTCMKTS:SMSMY) Sees Unusually-High Trading Volume – Here’s Why

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares saw an uptick in trading volume on Tuesday . Approximately 10,253 shares were traded during trading, an increase of 128% from the previous session’s volume of 4,491 shares.The stock last traded at $17.00 and had previously closed at $17.04.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in 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 report on Monday, June 22nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Trading Down 0.2%

The company has a current ratio of 1.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average is $17.74 and its 200 day moving average is $16.66.

About Sims Metal Management

Sims Metal Management, now known as Sims Limited, is a global metal recycling company headquartered in Sydney, Australia. The company collects, processes and trades recycled ferrous and non-ferrous metals, including steel, aluminum, copper and other recovered materials, which are supplied to manufacturers, steel mills and foundries.

Its operations include metal collection and processing, recycling of end-of-life vehicles and industrial equipment, and the recovery of metals from commercial, construction and demolition sources.