SSAB AB (publ) (OTCMKTS:SSAAY) Short Interest Down 94.9% in September

SSAB AB (publ) (OTCMKTS:SSAAY) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 500 shares, a drop of 94.9% from the September 15th total of 9,800 shares. Based on an average daily trading volume, of 10,300 shares, the days-to-cover ratio is presently 0.0 days.

SSAAY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of SSAB AB (publ) in a research report on Wednesday. Zacks Investment Research cut SSAB AB (publ) from a “buy” rating to a “hold” rating and set a $2.75 target price for the company. in a research note on Thursday, October 7th. Deutsche Bank Aktiengesellschaft upgraded SSAB AB (publ) from a “hold” rating to a “buy” rating in a research note on Wednesday, September 15th. Barclays restated an “overweight” rating on shares of SSAB AB (publ) in a research note on Tuesday, September 14th. Finally, Oddo Bhf upgraded SSAB AB (publ) from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, SSAB AB (publ) has an average rating of “Buy” and an average target price of $2.75.

OTCMKTS:SSAAY traded up $0.03 during trading hours on Thursday, reaching $2.43. 2,531 shares of the company traded hands, compared to its average volume of 6,720. SSAB AB has a 1 year low of $1.50 and a 1 year high of $3.11. The company has a current ratio of 1.71, a quick ratio of 0.90 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $2.65. The stock has a market capitalization of $5.01 billion, a P/E ratio of 9.23 and a beta of 1.23.

SSAB AB (publ) (OTCMKTS:SSAAY) last issued its quarterly earnings data on Wednesday, July 21st. The basic materials company reported $0.19 earnings per share (EPS) for the quarter. SSAB AB (publ) had a return on equity of 7.80% and a net margin of 5.92%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.88 billion. As a group, equities analysts anticipate that SSAB AB will post 0.66 EPS for the current year.

About SSAB AB (publ)

SSAB AB engages in producing steel and construction solutions. It operates through the following five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. The SSAB Special Steels segment market and sell quenched and tempered steels and hot rolled. The SSAB Europe segment focuses in the strip, plate, and tubular products.

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