SSAB (OTCMKTS:SSAAY) Shares Gap Down – Should You Sell?

SSAB (OTCMKTS:SSAAY) gapped down before the market opened on Friday. The stock had previously closed at $5.2698, but opened at $4.9974. SSAB shares last traded at $4.9075, with a volume of 2,417 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a research note on Friday, September 4th. Citigroup restated a “buy” rating on shares of SSAB in a research note on Tuesday, September 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

SSAB Trading Down 6.1%

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 business has a 50 day moving average price of $5.38 and a 200-day moving average price of $5.09. The company has a market cap of $9.94 billion, a P/E ratio of 16.62 and a beta of 1.40.

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. Analysts forecast that SSAB will post 0.39 earnings per share for the current fiscal year.

About SSAB

SSAB AB is a Sweden-based steel company that develops and produces high-strength, advanced high-strength, wear-resistant and other specialty steels. Its products are used in transportation, construction, manufacturing, mining, agriculture and energy applications, where improved strength, durability and reduced weight can support longer service life and greater efficiency.

The company markets products under brands including Strenx structural steel, Hardox wear plate, Docol automotive steel, GreenCoat color-coated steel and SSAB Zero, a steel product made with virtually fossil-free energy and production methods.