Short Interest in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Rises By 216.7%

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,900 shares, a growth of 216.7% from the November 30th total of 600 shares. Based on an average daily trading volume, of 700 shares, the short-interest ratio is presently 2.7 days.

Grupo Simec Stock Performance

Shares of NYSEAMERICAN:SIM traded up $0.23 during midday trading on Thursday, reaching $26.43. 1,601 shares of the company were exchanged, compared to its average volume of 1,103. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 7.82 and a beta of 0.31. Grupo Simec has a one year low of $25.00 and a one year high of $34.00.

Grupo Simec (NYSEAMERICAN:SIM) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $1.00 earnings per share for the quarter. Grupo Simec had a return on equity of 18.62% and a net margin of 29.44%. The business had revenue of $452.15 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th.

About Grupo Simec

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.