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

Key Points

• Sims Metal Management's shares gapped down from $9.00 to $8.16 at market opening on Thursday, with a trading volume of 251 shares.
• Wall Street analysts downgraded the stock from a "buy" rating to a "hold" rating, contributing to a current average rating of "Sell".
• The company's debt-to-equity ratio stands at 0.20, indicating relatively low leverage compared to its equity financing.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $9.00, but opened at $8.16. Sims Metal Management shares last traded at $8.16, with a volume of 251 shares.

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 report on Sunday, August 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell".

Sims Metal Management Price Performance

The firm's fifty day simple moving average is $9.75 and its 200 day simple moving average is $9.62. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20.

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.

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