SSAB (OTCMKTS:SSAAY) Shares Gap Up – Time to Buy?

SSAB (OTCMKTS:SSAAY) gapped up prior to trading on Wednesday . The stock had previously closed at $4.95, but opened at $5.29. SSAB shares last traded at $5.29, with a volume of 120 shares.

Analyst Ratings Changes

SSAAY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Monday. Finally, Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

SSAB Trading Down 0.8%

The stock’s 50 day simple moving average is $4.99 and its two-hundred day simple moving average is $4.49. The stock has a market capitalization of $10.40 billion, a PE ratio of 17.99 and a beta of 1.43. 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 quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $2.77 billion during the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. On average, sell-side analysts expect that SSAB will post 0.38 EPS 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.