Short Interest in Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM) Drops By 33.3%

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,600 shares, a drop of 33.3% from the May 15th total of 2,400 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily trading volume, of 1,100 shares, the short-interest ratio is presently 1.5 days.

Analyst Ratings Changes

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

Grupo Simec Stock Performance

Shares of Grupo Simec stock traded up $0.27 during trading on Wednesday, reaching $27.41. The company's stock had a trading volume of 2,558 shares, compared to its average volume of 1,487. Grupo Simec has a one year low of $22.15 and a one year high of $33.00. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 7.53 and a beta of 0.16. The stock has a fifty day moving average price of $27.15.

Hedge Funds Weigh In On Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. bought a new position in Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,899 shares of the basic materials company's stock, valued at approximately $212,000. 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.