Sims Metal Management (OTCMKTS:SMSMY) Stock Price Down 8.4% - Should You Sell?

Key Points

• Sims Metal Management's shares declined 8.4% to $9.39, with a significant drop in trading volume, down 69% from the average daily volume.
• Wall Street Zen has downgraded Sims Metal Management from a "buy" rating to a "hold" rating, reflecting a bearish sentiment among analysts.
• The company's financial ratios indicate a current ratio of 1.55 and a low debt-to-equity ratio of 0.11, suggesting solid liquidity and low leverage.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) was down 8.4% during trading on Monday . The company traded as low as $9.39 and last traded at $9.39. Approximately 600 shares changed hands during trading, a decline of 69% from the average daily volume of 1,934 shares. The stock had previously closed at $10.25.

Analysts Set New Price Targets

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

Sims Metal Management Stock Performance

The company has a quick ratio of 0.99, a current ratio of 1.55 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $10.25 and a 200 day moving average price of $9.57.

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.