Sims Metal Management Ltd. (OTCMKTS:SMSMY) Sees Significant Drop in Short Interest

Key Points

• Sims Metal Management Ltd. experienced a significant decrease in short interest, dropping to 100 shares as of August 15th, a decline of 96.0% from the previous month.
• The company's stock price remained stable at $9.16 with a trading volume of 49 shares, while it has a debt-to-equity ratio of 0.11 and a current ratio of 1.55.
• Wall Street analysts have downgraded Sims Metal Management from a "buy" to a "hold" rating, with an average stock rating of "Sell."

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 100 shares, adeclineof96.0% from the July 31st total of 2,500 shares. Based on an average daily trading volume, of 900 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 900 shares, the days-to-cover ratio is currently 0.1 days.

Sims Metal Management Stock Up 1.3%

Sims Metal Management stock traded up $0.11 during midday trading on Friday, reaching $9.17. 1,613 shares of the company traded hands, compared to its average volume of 1,363. The business has a 50 day moving average of $10.11 and a two-hundred day moving average of $9.61. Sims Metal Management has a 12 month low of $6.48 and a 12 month high of $11.85. The company has a quick ratio of 0.99, a current ratio of 1.55 and a debt-to-equity ratio of 0.11.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Sims Metal Management from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Sims Metal Management has a consensus rating of "Sell".

About Sims Metal Management

Sims Limited engages in buying, processing, and selling ferrous and non-ferrous recycled metals in Australia, Bangladesh, China, Turkey, the United States, and internationally. The company operates through six segments: North America Metals, Investment in SA Recycling, Australia/New Zealand Metals, UK Metals, Global Trading, and Sims Lifecycle Services.