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

Key Points

• Sims Metal Management shares experienced a gap up, opening at $9.25 after previously closing at $8.93, with a trading volume of 1,806 shares.
• Analyst ratings have downgraded the stock from a “buy” to a “hold” and it currently holds an average rating of “Sell” according to MarketBeat.com.
• The company has a debt-to-equity ratio of 0.11, which indicates a solid financial position in terms of leveraging its capital.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $8.93, but opened at $9.25. Sims Metal Management shares last traded at $9.25, with a volume of 1,806 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Sims Metal Management from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of "Sell".

Sims Metal Management Price Performance

The company's fifty day moving average is $10.17 and its 200 day moving average is $9.60. The company has a quick ratio of 0.99, a current ratio of 1.55 and a debt-to-equity ratio of 0.11.

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.