Sims Metal Management (OTCMKTS:SMSMY) Stock Price Down 9% – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price was down 9% during mid-day trading on Wednesday . The company traded as low as $16.83 and last traded at $16.83. 336 shares were traded during trading, a decline of 93% from the average daily volume of 4,854 shares. The stock had previously closed at $18.50.

Analyst Upgrades and Downgrades

SMSMY has been the topic of several research analyst reports. Jefferies Financial Group raised 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 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Sims Metal Management currently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The company’s 50-day moving average is $18.57 and its 200-day moving average is $16.25. The company has a current ratio of 1.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17.

Sims Metal Management Company Profile

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.