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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw a significant increase in short interest in 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 volume of 700 shares, the short-interest ratio is presently 2.7 days.

Grupo Simec Stock Up 2.7 %

Shares of SIM traded up $0.72 during mid-day trading on Friday, hitting $27.15. 673 shares of the company were exchanged, compared to its average volume of 1,099. Grupo Simec has a 1-year low of $25.00 and a 1-year high of $33.78. The company has a market cap of $4.18 billion, a PE ratio of 8.03 and a beta of 0.31.

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

Analysts Set New Price Targets

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