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

Key Points

• Gapped up pre-market to $14.5804 from $13.9980 on Tuesday, but trading volume was very low at just 150 shares.
• Analysts have recently upgraded the stock—Royal Bank of Canada moved it to a "moderate buy" and Goldman Sachs to "hold"—leaving a MarketBeat consensus of Moderate Buy.
• Technicals show a 50‑day simple moving average of $14.14 versus a 200‑day of $12.56, though the article also notes the stock is currently down 6.6%.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $13.9980, but opened at $14.5804. Sims Metal Management shares last traded at $14.5804, with a volume of 150 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SMSMY shares. 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. The Goldman Sachs Group raised shares of Sims Metal Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Sims Metal Management presently has a consensus rating of "Moderate Buy".

Sims Metal Management Stock Down 6.6%

The stock's fifty day simple moving average is $14.14 and its 200-day simple moving average is $12.56.

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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