SSAB (OTCMKTS:SSAAY) Stock Crosses Below 50-Day Moving Average – Here’s Why

SSAB (OTCMKTS:SSAAY)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.22 and traded as low as $4.00. SSAB shares last traded at $4.00, with a volume of 1,141 shares changing hands.

Wall Street Analysts Forecast Growth

SSAAY has been the subject of a number of recent analyst reports. Citigroup reiterated a “buy” rating on shares of SSAB in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Thursday, January 29th. 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, the stock presently has an average rating of “Moderate Buy”.

SSAB Trading Up 4.0%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The company has a market capitalization of $7.97 billion, a PE ratio of 16.00 and a beta of 1.36. The stock has a fifty day moving average of $4.22 and a 200 day moving average of $3.74.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.76 billion. SSAB had a net margin of 5.10% and a return on equity of 7.29%. As a group, sell-side analysts predict that SSAB will post 0.24 earnings per share for the current fiscal year.

SSAB Company Profile

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.