SSAB (OTCMKTS:SSAAY) Sees Significant Drop in Short Interest

Key Points

• SSAB experienced a 33.3% decrease in short interest during July, with total short interest falling to 5,600 shares as of July 31st.
• Nordea Equity Research downgraded SSAB to a "hold" rating on April 23rd, indicating a change in analyst sentiment regarding the stock.
• SSAB reported $0.10 earnings per share and revenue of $2.65 billion in its last earnings results, with an expected EPS of 0.24 for the current fiscal year.

SSAB (OTCMKTS:SSAAY - Get Free Report) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 5,600 shares, adropof33.3% from the July 15th total of 8,400 shares. Currently,0.0% of the shares of the stock are sold short. Based on an average daily volume of 2,200 shares, the short-interest ratio is presently 2.5 days. Based on an average daily volume of 2,200 shares, the short-interest ratio is presently 2.5 days. Currently,0.0% of the shares of the stock are sold short.

SSAB Price Performance

SSAAY traded down $0.04 during midday trading on Friday, hitting $2.92. 526 shares of the company traded hands, compared to its average volume of 600. The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 13.27 and a beta of 1.28. SSAB has a 52-week low of $1.89 and a 52-week high of $3.70. The business has a 50 day simple moving average of $3.03 and a two-hundred day simple moving average of $3.05.

SSAB (OTCMKTS:SSAAY - Get Free Report) last posted 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 for the quarter. SSAB had a net margin of 4.62% and a return on equity of 6.66%. On average, equities analysts forecast that SSAB will post 0.24 earnings per share for the current fiscal 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.