SSAB (OTCMKTS:SSAAY) Sees Strong Trading Volume – Still a Buy?

SSAB (OTCMKTS:SSAAY) shares saw an uptick in trading volume on Wednesday . 2,001 shares traded hands during trading, an increase of 11% from the previous session’s volume of 1,809 shares.The stock last traded at $4.61 and had previously closed at $4.3501.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SSAAY shares. Citigroup restated a “buy” rating on shares of SSAB in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

SSAB Stock Up 6.0%

The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $3.87. The firm has a market capitalization of $9.19 billion, a PE ratio of 18.44 and a beta of 1.36.

SSAB (OTCMKTS:SSAAY) last released its earnings results on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). SSAB had a return on equity of 7.29% and a net margin of 5.10%.The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Analysts forecast that SSAB will post 0.42 EPS for the current 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.