SSAB (OTCMKTS:SSAAY) Shares Cross Above 50-Day Moving Average – Should You Sell?

SSAB (OTCMKTS:SSAAY) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.24 and traded as high as $5.44. SSAB shares last traded at $5.44, with a volume of 158 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Dnb Carnegie downgraded SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of SSAB in a report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research report on Friday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

SSAB Trading Up 2.3%

The stock has a market cap of $10.84 billion, a PE ratio of 18.13 and a beta of 1.42. The stock has a 50-day moving average price of $5.24 and a two-hundred day moving average price of $4.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37.

SSAB (OTCMKTS:SSAAY) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%.The company had revenue of $2.94 billion for the quarter. Sell-side analysts forecast that SSAB will post 0.39 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.