SSAB (OTCMKTS:SSAAY) Shares Gap Down – Here’s Why

SSAB (OTCMKTS:SSAAY) shares gapped down prior to trading on Friday. The stock had previously closed at $5.57, but opened at $5.37. SSAB shares last traded at $5.37, with a volume of 1,517 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on SSAAY. Citigroup restated a “buy” rating on shares of SSAB in a research report on Tuesday, September 15th. Morgan Stanley restated an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Friday, September 4th. Finally, Dnb Carnegie lowered shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, SSAB has an average rating of “Moderate Buy”.

SSAB Stock Performance

The company has a current ratio of 2.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $10.70 billion, a PE ratio of 17.90 and a beta of 1.42. The firm’s 50-day simple moving average is $5.41 and its 200-day simple moving average is $4.92.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The firm had revenue of $2.94 billion during the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. On average, research analysts predict that SSAB will post 0.39 earnings per share for the current year.

About SSAB

SSAB AB is a Sweden-based steel company that develops and produces high-strength, special, and conventional steel products for industrial customers worldwide. Its offerings include advanced high-strength steels, wear-resistant steels, quenched and tempered steels, structural steels, and color-coated products used in vehicles, construction equipment, infrastructure, energy, and other industrial applications.

The company operates through business areas including SSAB Special Steels, SSAB Europe, and SSAB Americas.