Saab (OTCMKTS:SAABY) Shares Gap Down – Here’s What Happened

Saab AB – Unsponsored ADR (OTCMKTS:SAABY) gapped down prior to trading on Tuesday. The stock had previously closed at $31.00, but opened at $29.90. Saab shares last traded at $29.87, with a volume of 4,776 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SAABY shares. Royal Bank Of Canada upgraded Saab to a “hold” rating in a research note on Tuesday, August 11th. Pareto Securities raised shares of Saab from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Barclays raised Saab from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Kepler Capital Markets raised shares of Saab from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Saab Trading Down 3.0%

The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $32.19 billion, a price-to-earnings ratio of 42.96 and a beta of -0.15. The business’s fifty day moving average is $32.24 and its 200 day moving average is $30.64.

Saab (OTCMKTS:SAABY) last issued its quarterly earnings results on Friday, July 17th. The company reported $0.21 earnings per share (EPS) for the quarter. Saab had a net margin of 8.05% and a return on equity of 15.87%. The firm had revenue of $2.72 billion for the quarter.

About Saab

Saab AB is a Swedish defense and security company that develops, manufactures and maintains advanced systems for governments, armed forces and other public-sector customers. The company’s activities span aeronautics, weapons systems, command and control, sensors, surveillance, naval systems and cybersecurity.

Its product portfolio includes the Gripen fighter aircraft, GlobalEye airborne early warning and control system, radar and electronic warfare solutions, the Carl-Gustaf recoilless rifle, AT4 anti-armor weapon and RBS 70 air-defense system.