SSAB (OTCMKTS:SSAAY) Shares Gap Down – Time to Sell?

SSAB (OTCMKTS:SSAAY) shares gapped down prior to trading on Monday . The stock had previously closed at $4.3050, but opened at $4.11. SSAB shares last traded at $4.06, with a volume of 3,000 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SSAAY shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a report on Monday. Citigroup reiterated a “buy” rating on shares of SSAB in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

SSAB Stock Up 7.1%

The firm has a market cap of $8.67 billion, a P/E ratio of 17.40 and a beta of 1.36. The firm’s 50-day moving average price is $4.21 and its 200 day moving average price is $3.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). SSAB had a net margin of 5.10% and a return on equity of 7.29%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.76 billion. On average, equities research analysts expect that SSAB will post 0.24 earnings per share 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.