SSAB (OTCMKTS:SSAAY) Short Interest Update

Key Points

• SSAB’s short interest rose 61.7% to 3,287 shares as of July 31, equivalent to 5.3 days to cover, though only 0.0% of shares were sold short.
• Analyst sentiment remains positive overall, with three Buy ratings and two Holds giving SSAB a current consensus rating of “Moderate Buy.”
• SSAB shares were flat at $5.52, near their 52-week high, while the company reported quarterly revenue of $2.94 billion and earnings of $0.11 per share.

SSAB (OTCMKTS:SSAAY - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 3,287 shares, a growth of 61.7% from the July 15th total of 2,033 shares. Based on an average daily volume of 617 shares, the days-to-cover ratio is currently 5.3 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SSAAY. Morgan Stanley reissued an "overweight" rating on shares of SSAB in a research note on Tuesday, July 28th. Citigroup reiterated a "buy" rating on shares of SSAB in a report on Monday, July 13th. Dnb Carnegie lowered shares of SSAB from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SSAB in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, SSAB presently has an average rating of "Moderate Buy".

SSAB Stock Performance

SSAAY stock remained flat at $5.52 during midday trading on Monday. The company's stock had a trading volume of 261 shares, compared to its average volume of 884. SSAB has a one year low of $2.83 and a one year high of $5.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The stock has a market capitalization of $11.00 billion, a PE ratio of 18.40 and a beta of 1.40. The company's fifty day simple moving average is $5.14 and its 200-day simple moving average is $4.68.

SSAB (OTCMKTS:SSAAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%.The company had revenue of $2.94 billion for the quarter. As a group, research analysts expect that SSAB will post 0.39 EPS for the current fiscal year.

SSAB Company Profile

SSAB OTCMKTS: SSAAY is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB's key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden's state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.

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