SSAB (OTCMKTS:SSAAY) Sees Strong Trading Volume – Should You Buy?

SSAB (OTCMKTS:SSAAY) saw an uptick in trading volume on Thursday . Approximately 6,411 shares were traded during mid-day trading, an increase of 451% from the previous session’s volume of 1,163 shares.The stock last traded at $5.62 and had previously closed at $5.50.

Wall Street Analyst Weigh In

SSAAY has been the subject of several recent analyst reports. Citigroup restated a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Morgan Stanley restated an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Finally, Dnb Carnegie lowered shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

SSAB Price Performance

The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 18.73 and a beta of 1.40. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $5.10 and its 200 day moving average is $4.62.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share for the quarter. The company had revenue of $2.94 billion during the quarter. SSAB had a return on equity of 8.52% and a net margin of 5.73%. Research analysts anticipate that SSAB will post 0.4 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.