Short Interest in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Rises By 87.5%

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,500 shares, a growth of 87.5% from the September 15th total of 800 shares. Based on an average daily volume of 700 shares, the short-interest ratio is currently 2.1 days.

Grupo Simec Stock Performance

Grupo Simec stock remained flat at $27.67 during mid-day trading on Friday. The company had a trading volume of 25 shares, compared to its average volume of 269. The company has a market capitalization of $4.26 billion, a PE ratio of 9.16 and a beta of 0.29. Grupo Simec has a fifty-two week low of $26.00 and a fifty-two week high of $34.29.

Grupo Simec (NYSEAMERICAN:SIM) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter. The business had revenue of $487.42 million for the quarter. Grupo Simec had a return on equity of 16.68% and a net margin of 24.90%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Grupo Simec from a “buy” rating to a “strong-buy” rating in a report on Thursday.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.