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SSAB (OTCMKTS:SSAAY) Stock Price Down 11.3% - Time to Sell?

SSAB logo with Basic Materials background

Key Points

  • SSAB shares experienced a significant decline of 11.3%, closing at $3.09 after a trading session with increased volume.
  • Danske Bank has downgraded SSAB from a "buy" to a "hold" rating, contributing to the current sentiment around the stock.
  • The company reported $0.10 earnings per share for the last quarter with a revenue of $2.65 billion, and analysts predict an EPS of $0.24 for the current year.
  • Interested in SSAB? Here are five stocks we like better.

SSAB (OTCMKTS:SSAAY - Get Free Report) shares fell 11.3% on Thursday . The company traded as low as $3.09 and last traded at $3.09. 3,805 shares changed hands during mid-day trading, an increase of 41% from the average session volume of 2,705 shares. The stock had previously closed at $3.49.

Wall Street Analyst Weigh In

Separately, Danske downgraded SSAB from a "buy" rating to a "hold" rating in a research report on Friday, October 10th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

Get Our Latest Stock Report on SSAAY

SSAB Price Performance

The company has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $3.04. 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 company has a market cap of $6.16 billion, a P/E ratio of 14.05 and a beta of 1.25.

SSAB (OTCMKTS:SSAAY - Get Free Report) last released 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 return on equity of 6.66% and a net margin of 4.62%. On average, sell-side analysts predict that SSAB will post 0.24 earnings per share for the current year.

SSAB Company Profile

(Get Free Report)

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.

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