Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down - Here's What Happened

Key Points

• Sims Metal Management's shares experienced a significant drop, gapping down from a previous close of $11.00 to open at $9.53 before last trading at the same price.
• Analysts at Wall Street Zen downgraded the stock from a "buy" rating to a "hold" rating following the recent stock movement.
• The company operates internationally in recycling metals and has a relatively low debt-to-equity ratio of 0.11, indicating financial stability.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $11.00, but opened at $9.53. Sims Metal Management shares last traded at $9.53, with a volume of 2,760 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Sims Metal Management from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd.

Sims Metal Management Stock Performance

The stock has a fifty day moving average of $10.33 and a 200 day moving average of $9.49. The company has a current ratio of 1.55, a quick ratio of 0.99 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.