Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up - Should You Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $26.23, but opened at $28.00. Grupo Simec shares last traded at $27.00, with a volume of 342 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Grupo Simec from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th.

Grupo Simec Stock Performance

The stock has a 50 day moving average of $26.51. The firm has a market capitalization of $4.11 billion, a P/E ratio of 7.90 and a beta of 0.29.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,899 shares of the basic materials company's stock, valued at approximately $212,000. Hedge funds and other institutional investors own 0.17% of the company's stock.

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.