Sims Metal Management (OTCMKTS:SMSMY) Sees Strong Trading Volume - Here's What Happened

Key Points

• Sims Metal Management experienced a significant increase in trading volume, with approximately 5,530 shares traded, a 180% rise from the previous session.
• Wall Street analysts have downgraded Sims Metal Management from a "buy" to a "hold" rating, with the average rating now classified as "Sell."
• The company's fifty-day moving average is $10.32, while the current stock price sits at $9.36, indicating a potential decline from its recent trends.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 5,530 shares were traded during mid-day trading, an increase of 180% from the previous session's volume of 1,972 shares.The stock last traded at $9.36 and had previously closed at $9.39.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Sims Metal Management from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Sims Metal Management Stock Performance

The firm has a fifty day moving average of $10.32 and a 200 day moving average of $9.56. The company has a quick ratio of 0.99, a current ratio of 1.55 and a debt-to-equity ratio of 0.11.

Sims Metal Management Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.