SSAB (OTCMKTS:SSAAY) Short Interest Up 2,387.5% in August

Key Points

• Short interest surged 2,387.5% in August to 199 shares from 8 shares, although only 0.0% of SSAB’s shares are short and the short-interest ratio remains low at 0.2 days.
• Analyst sentiment is generally positive, with three Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating.
• SSAB shares held at $5.44, near their 52-week high of $5.74. The company reported quarterly EPS of $0.11 on $2.94 billion in revenue, while analysts expect full-year EPS of $0.39.

SSAB (OTCMKTS:SSAAY - Get Free Report) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 199 shares, an increase of 2,387.5% from the August 15th total of 8 shares. Based on an average daily volume of 1,113 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SSAAY shares. Citigroup reissued a "buy" rating on shares of SSAB in a research note on Monday, July 13th. Dnb Carnegie lowered SSAB from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Morgan Stanley restated an "overweight" rating on shares of SSAB in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SSAB in a research report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, SSAB presently has a consensus rating of "Moderate Buy".

SSAB Price Performance

Shares of OTCMKTS:SSAAY remained flat at $5.44 during midday trading on Thursday. 103 shares of the stock traded hands, compared to its average volume of 419. 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 stock's 50 day simple moving average is $5.28 and its 200 day simple moving average is $4.83. The stock has a market cap of $10.84 billion, a PE ratio of 18.13 and a beta of 1.42. SSAB has a 52-week low of $2.86 and a 52-week high of $5.74.

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

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, special, and conventional steel products for industrial customers worldwide. Its offerings include advanced high-strength steels, wear-resistant steels, quenched and tempered steels, structural steels, and color-coated products used in vehicles, construction equipment, infrastructure, energy, and other industrial applications.

The company operates through business areas including SSAB Special Steels, SSAB Europe, and SSAB Americas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.