Grupo Simec (NYSEAMERICAN:SIM) Sees Strong Trading Volume - Should You Buy?

Key Points

• Grupo Simec experienced a surge in trading volume, with approximately 394 shares traded, marking a 48% increase from the previous session.
• Following a recent analysis, Wall Street Zen downgraded Grupo Simec's rating from "buy" to "hold."
• The company's current stock price is $27.96, with a market capitalization of $4.11 billion and a price-to-earnings ratio of 13.77.

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 394 shares traded hands during mid-day trading, an increase of 48% from the previous session's volume of 266 shares.The stock last traded at $27.96 and had previously closed at $27.79.

Wall Street Analysts Forecast Growth

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

Grupo Simec Stock Performance

The stock has a market capitalization of $4.11 billion, a P/E ratio of 13.75 and a beta of 0.20. The firm has a fifty day moving average of $27.72.

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.