Grupo Simec (NYSEAMERICAN:SIM) Trading Down 10.6% - Here's What Happened

Key Points

• Grupo Simec shares experienced a significant drop of 10.6%, closing at $25.00, after peaking at $27.96.
• The company's stock trading volume surged by 335% compared to its average session volume, with 972 shares traded.
• Wall Street Zen downgraded Grupo Simec from a "buy" to a "hold" rating in a recent research note.

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) shares fell 10.6% on Monday . The company traded as low as $25.00 and last traded at $25.00. 972 shares were traded during mid-day trading, an increase of 335% from the average session volume of 224 shares. The stock had previously closed at $27.96.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of 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 stock has a market cap of $3.85 billion, a P/E ratio of 12.89 and a beta of 0.20. The stock has a 50 day moving average price of $27.68.

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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