SSAB (OTCMKTS:SSAAY) Shares Gap Up - Time to Buy?

Key Points

• SSAB shares gapped up from a previous close of $2.97 to an opening price of $3.08 before settling at $2.98.
• Nordea Equity Research downgraded SSAB to a "hold" rating, signaling cautious outlook for the stock.
• The company reported $0.10 EPS for the last quarter, with revenue of $2.65 billion and a net margin of 4.62%.

SSAB (OTCMKTS:SSAAY - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $2.97, but opened at $3.08. SSAB shares last traded at $2.98, with a volume of 763 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Nordea Equity Research cut shares of SSAB to a "hold" rating in a report on Wednesday, April 23rd.

SSAB Stock Performance

The stock's 50 day simple moving average is $3.05 and its two-hundred day simple moving average is $3.02. 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 stock has a market cap of $5.93 billion, a P/E ratio of 13.52 and a beta of 1.28.

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

About SSAB

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.