SSAB (OTCMKTS:SSAAY) Shares Gap Down - Should You Sell?

Key Points

• SSAB shares gapped down before trading, opening at $2.91 after closing at $3.10, with a trading volume of 1,988 shares.
• Wall Street analysts have shown mixed sentiments, with Deutsche Bank maintaining a "hold" rating while Nordea Equity Research dropped its rating to "hold."
• For the latest quarter, SSAB reported $0.10 EPS and revenue of $2.65 billion, with analysts predicting an average earnings per share of $0.24 for the current fiscal year.

Shares of SSAB (OTCMKTS:SSAAY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $3.10, but opened at $2.91. SSAB shares last traded at $2.91, with a volume of 1,988 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on SSAAY shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SSAB in a research report on Monday, April 14th. Nordea Equity Research cut shares of SSAB to a "hold" rating in a research report on Wednesday, April 23rd.

SSAB Stock Performance

The stock's 50-day moving average price is $3.08 and its 200-day moving average price is $2.98. The company has a market cap of $5.82 billion, a P/E ratio of 13.27 and a beta of 1.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.71 and a quick ratio of 1.54.

SSAB (OTCMKTS:SSAAY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The basic materials company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $2.65 billion during the quarter. SSAB had a net margin of 4.62% and a return on equity of 6.76%. Equities analysts anticipate that SSAB will post 0.24 EPS for the current 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.