SSAB (OTCMKTS:SSAAY) Shares Shorted: Short Interest Up 1,547.8% in September

Key Points

• SSAB’s short interest surged 1,547.8% in September to 1,516 shares, up from 92 shares two weeks earlier. Short interest still represents approximately 0.0% of shares outstanding, with a short-interest ratio of 2.1 days.
• Analyst sentiment remains generally positive, with three Buy ratings and two Hold ratings, resulting in a MarketBeat consensus rating of “Moderate Buy.”
• SSAB shares recently traded at $5.27, near the upper end of their $3.04–$5.74 one-year range. The company reported quarterly revenue of $2.94 billion and earnings of $0.11 per share.

SSAB (OTCMKTS:SSAAY - Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 1,516 shares, a growth of 1,547.8% from the September 15th total of 92 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 728 shares, the short-interest ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SSAB in a research report on Friday, September 4th. Dnb Carnegie downgraded SSAB from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating on shares of SSAB in a research note on Tuesday, July 28th. Finally, Citigroup reissued a "buy" rating on shares of SSAB in a report on Tuesday, September 15th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, SSAB has an average rating of "Moderate Buy".

SSAB Price Performance

Shares of SSAAY traded up $0.19 during trading hours on Friday, hitting $5.27. 494 shares of the company were exchanged, compared to its average volume of 432. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The company has a market capitalization of $10.50 billion, a PE ratio of 17.57 and a beta of 1.40. The firm has a fifty day simple moving average of $5.41 and a 200-day simple moving average of $4.99. SSAB has a one year low of $3.04 and a one year high of $5.74.

SSAB (OTCMKTS:SSAAY - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share (EPS) for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. The company had revenue of $2.94 billion for the quarter. As a group, sell-side analysts predict that SSAB will post 0.39 earnings per share for the current year.

About SSAB

SSAB AB is a Sweden-based steel company that develops and manufactures high-strength, specialty and conventional flat steel products. Its offerings include quenched and tempered steels, wear-resistant steels, automotive steels, structural steels and coated products used in construction, transportation, manufacturing, mining and other industrial applications.

The company markets products under brands including Hardox wear plate, Strenx performance steel, Docol automotive steel and GreenCoat color-coated products.

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