Short Interest in Sims Metal Management Ltd. (OTCMKTS:SMSMY) Expands By 188.5%

Sims Metal Management Ltd. (OTCMKTS:SMSMY) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 2,273 shares, an increase of 188.5% from the February 26th total of 788 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 6,407 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Ratings Changes

A number of brokerages recently commented on SMSMY. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Sims Metal Management Trading Up 2.9%

SMSMY stock opened at $15.01 on Thursday. Sims Metal Management has a fifty-two week low of $7.30 and a fifty-two week high of $16.95. The business’s 50 day moving average price is $14.34 and its two-hundred day moving average price is $11.78. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20.

About Sims Metal Management

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.