Sims Metal Management Ltd. (OTCMKTS:SMSMY – Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 2,477 shares, a growth of 2,281.7% from the May 31st total of 104 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 7,967 shares, the days-to-cover ratio is presently 0.3 days.
Sims Metal Management Stock Performance
Shares of SMSMY traded up $1.47 during trading hours on Thursday, hitting $19.52. 338 shares of the company were exchanged, compared to its average volume of 3,504. The firm has a fifty day simple moving average of $17.03 and a 200-day simple moving average of $14.78. Sims Metal Management has a one year low of $8.16 and a one year high of $21.35.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on SMSMY shares. Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Sims Metal Management has an average rating of “Hold”.
Sims Metal Management Company Profile
Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.
The company’s core activities encompass the sourcing and processing of end-of-life metal products.
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