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

Key Points

• Gapped down: Sims Metal Management (OTCMKTS: SMSMY) opened pre-market at $14.83 after closing at $15.3256, last trading at $14.83 on a volume of 597 shares and down about 4.1%.
• Analyst activity has improved recently — Royal Bank of Canada upgraded the stock to a "moderate buy" and Goldman Sachs moved it to "hold" from "strong sell," leaving an average rating of Moderate Buy (one Buy, one Hold).
• The stock sits above key technicals with a 50-day simple moving average of $14.21 and a 200-day SMA of $12.41; Sims Metal is the global metal recycling division of Sims Limited, focused on sourcing and processing ferrous and non-ferrous scrap.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $15.3256, but opened at $14.83. Sims Metal Management shares last traded at $14.83, with a volume of 597 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SMSMY shares. Royal Bank Of Canada upgraded Sims Metal Management from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, March 18th. The Goldman Sachs Group upgraded Sims Metal Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy".

Sims Metal Management Trading Down 4.1%

The firm has a 50-day simple moving average of $14.21 and a two-hundred day simple moving average of $12.41.

Sims Metal Management Company Profile

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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