SSAB (OTCMKTS:SSAAY) Shares Gap Up - Should You 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)'s share price gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Separately, Nordea Equity Research downgraded shares of SSAB to a "hold" rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

SSAB Stock Up 1.4%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.49 and a current ratio of 2.72. The firm has a market capitalization of $5.90 billion, a PE ratio of 13.46 and a beta of 1.28. The company has a fifty day moving average price of $3.04 and a 200-day moving average price of $3.04.

SSAB (OTCMKTS:SSAAY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The basic materials company reported $0.10 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 6.66%. As a group, analysts expect that SSAB will post 0.24 earnings per share 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.