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) shares gapped down prior to trading 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 changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Sims Metal Management from a "buy" rating to a "hold" rating in a research note on Sunday.

Sims Metal Management Trading Down 16.4%

The stock's 50 day moving average is $10.32 and its 200-day moving average is $9.47. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.99 and a current ratio of 1.55.

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.