Sims Metal Management Ltd. (OTCMKTS:SMSMY) Short Interest Down 66.0% in March

Key Points

• Short interest plunged 66.0% in March to 772 shares as of March 31, with shorted shares representing about 0.0% of float and a days-to-cover ratio of 0.0 days.
• Analysts have recently upgraded the stock—Goldman Sachs to Hold and Royal Bank of Canada to Moderate Buy—leaving the consensus rating at Moderate Buy (one Buy, one Hold).
• SMSMY opened at $14.29, trading in a one-year range of $7.80–$16.95, with a 50-day moving average of $14.20 and a 200-day moving average of $12.10.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 772 shares, a drop of 66.0% from the March 15th total of 2,273 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 33,249 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group upgraded Sims Metal Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 10th. Royal Bank Of Canada upgraded Sims Metal Management from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

Sims Metal Management Price Performance

SMSMY opened at $14.29 on Friday. Sims Metal Management has a one year low of $7.80 and a one year high of $16.95. The company's 50 day simple moving average is $14.20 and its 200-day simple moving average is $12.10.

About Sims Metal Management

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world's leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company's core activities encompass the sourcing and processing of end-of-life metal products.

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