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

Key Points

• Gapped down: Shares of Sims Metal Management (OTCMKTS:SMSMY) fell premarket from $14.96 to $14.1250, with only 667 shares changing hands.
• Analyst upgrades: Goldman Sachs raised its rating from "strong sell" to "hold" and Royal Bank of Canada upgraded to "moderate buy," leaving a MarketBeat average rating of "Moderate Buy."
• Technically, the stock's 50‑day simple moving average is $14.09 and the 200‑day SMA is $12.67, indicating it is trading near the short‑term average and above the longer‑term trend.

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $14.96, but opened at $14.1250. Sims Metal Management shares last traded at $14.1250, with a volume of 667 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group raised shares of Sims Metal Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 10th. Royal Bank Of Canada upgraded shares of Sims Metal Management from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

Sims Metal Management Price Performance

The company's 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $12.67.

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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