SSAB (OTCMKTS:SSAAY) Sees Unusually-High Trading Volume – Here’s What Happened

SSAB (OTCMKTS:SSAAY) saw unusually-strong trading volume on Monday . 1,000 shares were traded during trading, a decline of 22% from the previous session’s volume of 1,279 shares.The stock last traded at $4.95 and had previously closed at $4.98.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SSAAY. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Tuesday, July 7th. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a research note on Monday, June 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

SSAB Price Performance

The firm has a market cap of $9.87 billion, a PE ratio of 17.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39. The business’s fifty day moving average is $4.95 and its 200-day moving average is $4.45.

SSAB (OTCMKTS:SSAAY) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The firm had revenue of $2.77 billion during the quarter. On average, research analysts predict that SSAB will post 0.38 earnings per share 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.