SSAB (OTCMKTS:SSAAY) Shares Gap Down - Here's Why

Key Points

• SSAB shares gapped down before the market opened, dropping from a previous close of $3.49 to an opening price of $3.27.
• SSAB was downgraded by Danske from a "buy" to a "hold" rating, contributing to the decline in stock value.
• The company reported $0.10 earnings per share for the last quarter, with anticipated earnings of $0.24 for the current fiscal year.

SSAB (OTCMKTS:SSAAY - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $3.49, but opened at $3.27. SSAB shares last traded at $3.27, with a volume of 1,007 shares.

Wall Street Analyst Weigh In

Separately, Danske downgraded SSAB from a "buy" rating to a "hold" rating in a research note on Friday, October 10th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, SSAB presently has an average rating of "Hold".

SSAB Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.49. The company has a 50-day moving average price of $3.01 and a two-hundred day moving average price of $3.03. The company has a market cap of $6.52 billion, a PE ratio of 14.86 and a beta of 1.25.

SSAB (OTCMKTS:SSAAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The basic materials company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $2.65 billion during the quarter. SSAB had a return on equity of 6.66% and a net margin of 4.62%. Sell-side analysts expect that SSAB will post 0.24 earnings per share for the current fiscal year.

SSAB Company Profile

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.

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