SSAB (OTCMKTS:SSAAY) Shares Gap Down – Here’s What Happened

SSAB (OTCMKTS:SSAAY) gapped down prior to trading on Friday. The stock had previously closed at $5.2698, but opened at $4.9974. SSAB shares last traded at $4.9075, with a volume of 2,417 shares.

Analyst Ratings Changes

Several brokerages have commented on SSAAY. Citigroup restated a “buy” rating on shares of SSAB in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research note on Friday, September 4th. Dnb Carnegie cut shares of SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

SSAB Trading Down 6.1%

The stock has a market capitalization of $9.94 billion, a PE ratio of 16.62 and a beta of 1.40. The stock has a 50-day moving average price of $5.38 and a two-hundred day moving average price of $5.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.37 and a current ratio of 2.43.

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

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, advanced high-strength, wear-resistant and other specialty steels. Its products are used in transportation, construction, manufacturing, mining, agriculture and energy applications, where improved strength, durability and reduced weight can support longer service life and greater efficiency.

The company markets products under brands including Strenx structural steel, Hardox wear plate, Docol automotive steel, GreenCoat color-coated steel and SSAB Zero, a steel product made with virtually fossil-free energy and production methods.