SSAB (OTCMKTS:SSAAY) Hits New 52-Week High – Here’s What Happened

SSAB (OTCMKTS:SSAAY)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $4.00 and last traded at $4.00, with a volume of 410 shares. The stock had previously closed at $3.9150.

Analyst Ratings Changes

A number of analysts recently weighed in on SSAAY shares. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Friday, December 5th. Danske raised SSAB from a “hold” rating to a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, SSAB presently has an average rating of “Moderate Buy”.

SSAB Trading Up 1.8%

The stock’s 50-day moving average price is $3.60 and its 200 day moving average price is $3.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.30. The firm has a market capitalization of $8.11 billion, a PE ratio of 16.28 and a beta of 1.31.

SSAB (OTCMKTS:SSAAY) last posted its quarterly earnings results on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share (EPS) for the quarter. SSAB had a return on equity of 7.33% and a net margin of 5.17%.The business had revenue of $2.41 billion for the quarter. On average, sell-side analysts expect that SSAB will post 0.24 EPS 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.