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

Saab AB – Unsponsored ADR (OTCMKTS:SAABY)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $32.23, but opened at $31.14. Saab shares last traded at $32.57, with a volume of 9,194 shares changing hands.

Wall Street Analysts Forecast Growth

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

Saab Stock Up 0.3%

The company has a market capitalization of $34.61 billion, a PE ratio of 46.19 and a beta of -0.15. The firm’s 50-day simple moving average is $31.85 and its 200 day simple moving average is $30.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 1.23.

About Saab

Saab AB is a Sweden-based defense and aerospace company that develops, manufactures and supports products and services for military and civil security customers. Its business includes combat aircraft, weapons systems, sensors, command-and-control solutions, training systems and naval platforms.

The company’s Aeronautics business produces the Gripen fighter aircraft and related systems, while its Surveillance operations provide airborne early-warning, radar, electronic-warfare and sensor technologies, including the GlobalEye system.