Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Sees Large Increase in Short Interest

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,900 shares, an increase 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 currently 2.7 days.

Grupo Simec Price Performance

NYSEAMERICAN:SIM traded up $0.72 on Friday, hitting $27.15. 673 shares of the stock were exchanged, compared to its average volume of 1,099. The firm has a market capitalization of $4.18 billion, a PE ratio of 8.03 and a beta of 0.31. Grupo Simec has a fifty-two week low of $25.00 and a fifty-two week high of $33.78.

Grupo Simec (NYSEAMERICAN:SIM) last announced 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 net margin of 29.44% and a return on equity of 18.62%. The firm had revenue of $452.15 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a research note 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.