SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – Here’s Why

SSAB (OTCMKTS:SSAAY) shares saw strong trading volume on Wednesday . 3,142 shares changed hands during trading, an increase of 109% from the previous session’s volume of 1,500 shares.The stock last traded at $4.13 and had previously closed at $4.0880.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SSAAY. Danske raised shares of SSAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of SSAB in a research note on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The company has a 50-day moving average of $3.72 and a 200-day moving average of $3.30. The firm has a market capitalization of $8.23 billion, a P/E ratio of 16.52 and a beta of 1.31. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.06.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. The firm had revenue of $2.41 billion for the quarter. On average, equities analysts anticipate that SSAB will post 0.24 earnings per share for the current fiscal 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.