Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase - Still a Buy?

Key Points

• Grupo Simec experienced a significant increase in trading volume, with shares rising by 167% to 1,709 traded on Tuesday.
• Wall Street analysts downgraded Grupo Simec from a "buy" to a "hold" rating, reflecting a change in market sentiment.
• The stock is currently priced at $27.40 with a market cap of $4.21 billion and a P/E ratio of 14.11.

Shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) saw an uptick in trading volume on Tuesday . 1,709 shares traded hands during mid-day trading, an increase of 167% from the previous session's volume of 641 shares.The stock last traded at $27.40 and had previously closed at $27.79.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Grupo Simec from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th.

Grupo Simec Trading Down 1.5%

The stock has a market cap of $4.21 billion, a P/E ratio of 14.11 and a beta of 0.16. The company has a 50 day moving average of $27.61.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.