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

Key Points

• Grupo Simec's shares gapped down from a closing price of $27.96 to an opening price of $25.00 before last trading at $27.36.
• Wall Street Zen has dropped Grupo Simec's rating from "buy" to "hold," reflecting potential concerns about the company's performance.
• The company operates in the steel manufacturing industry, producing a variety of steel products for both domestic and international markets.

Shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $27.96, but opened at $25.00. Grupo Simec shares last traded at $27.36, with a volume of 917 shares trading hands.

Wall Street Analyst Weigh In

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 10.6%

The business's 50 day simple moving average is $27.72. The firm has a market capitalization of $3.85 billion, a PE ratio of 12.89 and a beta of 0.20.

About Grupo Simec

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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