SSAB (OTCMKTS:SSAAY) Sees Large Volume Increase – Time to Buy?

Shares of SSAB (OTCMKTS:SSAAY) saw strong trading volume on Monday . 1,000 shares traded hands during trading, a decline of 22% from the previous session’s volume of 1,279 shares.The stock last traded at $4.95 and had previously closed at $4.98.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SSAAY. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

SSAB Stock Up 2.5%

The company has a market cap of $9.87 billion, a price-to-earnings ratio of 17.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The stock’s fifty day moving average is $4.95 and its two-hundred day moving average is $4.45.

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