Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) Short Interest Down 40.0% in October

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 900 shares, a drop of 40.0% from the September 30th total of 1,500 shares. Based on an average daily trading volume, of 700 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Grupo Simec from a "strong-buy" rating to a "buy" rating in a research report on Wednesday.

Grupo Simec Trading Up 8.2 %

Shares of SIM traded up $2.22 during trading hours on Friday, reaching $29.45. 1,032 shares of the company traded hands, compared to its average volume of 1,045. The firm has a market capitalization of $4.54 billion, a P/E ratio of 9.75 and a beta of 0.29. Grupo Simec has a 12-month low of $26.00 and a 12-month high of $34.29.

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.