SSAB (OTCMKTS:SSAAY) Shares Gap Up – What’s Next?

SSAB (OTCMKTS:SSAAY) shares gapped up before the market opened on Monday . The stock had previously closed at $3.8450, but opened at $4.20. SSAB shares last traded at $4.20, with a volume of 228 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SSAAY. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research note on Thursday, January 29th. Citigroup reiterated a “buy” rating on shares of SSAB in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

SSAB Stock Up 5.4%

The company has a market cap of $8.82 billion, a P/E ratio of 17.70 and a beta of 1.36. The stock has a 50-day moving average of $4.20 and a 200 day moving average of $3.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39.

SSAB (OTCMKTS:SSAAY) last issued its earnings results on Wednesday, January 28th. The basic materials company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). SSAB had a net margin of 5.10% and a return on equity of 7.29%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.76 billion. Research analysts anticipate that SSAB will post 0.24 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.