Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares saw unusually-high trading volume on Tuesday . Approximately 22,550 shares were traded during mid-day trading, an increase of 336% from the previous session’s volume of 5,167 shares.The stock last traded at $3.31 and had previously closed at $3.22.

Analysts Set New Price Targets

SZGPY has been the subject of several research reports. BNP Paribas upgraded shares of Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. Zacks Research upgraded shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Salzgitter Stock Up 1.9%

The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -3.81 and a beta of 1.50. The stock’s fifty day moving average is $3.01 and its 200-day moving average is $2.67.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Monday, August 11th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. As a group, equities research analysts predict that Salzgitter AG will post -0.68 earnings per share for the current fiscal year.

About Salzgitter

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.