SSAB (OTCMKTS:SSAAY) Shares Shorted: Short Interest Up 1,547.8% in September

SSAB (OTCMKTS:SSAAY) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 1,516 shares, an increase of 1,547.8% from the September 15th total of 92 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 728 shares, the days-to-cover ratio is currently 2.1 days.

SSAB Stock Up 3.7%

SSAB stock traded up $0.19 during trading hours on Friday, hitting $5.27. The company had a trading volume of 494 shares, compared to its average volume of 432. SSAB has a fifty-two week low of $3.04 and a fifty-two week high of $5.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The firm has a market capitalization of $10.50 billion, a P/E ratio of 17.57 and a beta of 1.40. The firm’s fifty day moving average is $5.41 and its 200-day moving average is $4.99.

SSAB (OTCMKTS:SSAAY) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $0.11 earnings per share (EPS) for the quarter. SSAB had a net margin of 5.73% and a return on equity of 8.18%. The company had revenue of $2.94 billion during the quarter. On average, research analysts forecast that SSAB will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SSAAY shares. Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Dnb Carnegie downgraded SSAB from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research report on Friday, September 4th. Finally, Citigroup reissued a “buy” rating on shares of SSAB in a research note on Tuesday, September 15th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, SSAB presently has a consensus rating of “Moderate Buy”.

About SSAB

SSAB AB is a Sweden-based steel company that develops and manufactures high-strength, specialty and conventional flat steel products. Its offerings include quenched and tempered steels, wear-resistant steels, automotive steels, structural steels and coated products used in construction, transportation, manufacturing, mining and other industrial applications.

The company markets products under brands including Hardox wear plate, Strenx performance steel, Docol automotive steel and GreenCoat color-coated products.