Short Interest in Sims Metal Management Ltd. (OTCMKTS:SMSMY) Rises By 56.9%

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 1,211 shares, an increase of 56.9% from the March 31st total of 772 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 6,863 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SMSMY shares. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Sims Metal Management Price Performance

OTCMKTS:SMSMY opened at $14.00 on Monday. Sims Metal Management has a fifty-two week low of $8.16 and a fifty-two week high of $16.95. The company has a 50 day moving average price of $14.15 and a 200 day moving average price of $12.52.

Sims Metal Management Company Profile

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.