SSAB (OTCMKTS:SSAAY) Shares Gap Down – Here’s What Happened

SSAB (OTCMKTS:SSAAY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.3050, but opened at $4.11. SSAB shares last traded at $4.06, with a volume of 3,000 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SSAAY shares. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

SSAB Trading Down 5.7%

The firm has a market capitalization of $8.09 billion, a PE ratio of 16.24 and a beta of 1.36. The stock’s 50-day moving average price is $4.21 and its 200 day moving average price is $3.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.76 billion. SSAB had a net margin of 5.10% and a return on equity of 7.29%. On average, sell-side analysts expect that SSAB will post 0.24 EPS for the current fiscal year.

About SSAB

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.