SSAB (OTCMKTS:SSAAY) Shares Gap Up – What’s Next?

SSAB (OTCMKTS:SSAAY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $4.13, but opened at $4.60. SSAB shares last traded at $4.60, with a volume of 1,008 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on SSAAY shares. Danske raised shares of SSAB from a “hold” rating to a “buy” rating in a research report on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of SSAB in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, SSAB currently has a consensus rating of “Moderate Buy”.

SSAB Trading Up 0.9%

The firm has a fifty day moving average of $3.78 and a 200 day moving average of $3.32. The firm has a market capitalization of $8.65 billion, a PE ratio of 17.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.30 and a current ratio of 2.38.

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