Grupo Simec (NYSEAMERICAN:SIM) Shares Down 7% - Time to Sell?

Key Points

• Grupo Simec's share price experienced a significant decline of 7%, closing at $26.69 after trading as low as $27.45.
• Trading volume spiked to 1,708 shares, marking a 140% increase over the average session volume.
• Analysts from Wall Street Zen downgraded the company's rating from "buy" to "hold" on May 13th, indicating potential concerns about future performance.

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s share price traded down 7% during trading on Monday . The stock traded as low as $27.45 and last traded at $26.69. 1,708 shares changed hands during mid-day trading, an increase of 140% from the average session volume of 710 shares. The stock had previously closed at $28.70.

Analyst Ratings Changes

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

Grupo Simec Trading Down 7.0%

The company has a market cap of $4.11 billion, a price-to-earnings ratio of 13.76 and a beta of 0.16. The business has a 50 day moving average price of $27.58.

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.

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