Salzgitter AG (OTCMKTS:SZGPY) Short Interest Down 52.4% in March

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 290 shares, a decline of 52.4% from the February 26th total of 609 shares. Based on an average daily trading volume, of 950 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company’s shares are short sold.

Salzgitter Stock Performance

Shares of Salzgitter stock opened at $4.59 on Friday. Salzgitter has a 52 week low of $2.09 and a 52 week high of $6.86. The stock has a 50 day moving average price of $5.63 and a two-hundred day moving average price of $4.46. The stock has a market capitalization of $2.48 billion, a PE ratio of -30.60 and a beta of 1.36.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Thursday, March 19th. The basic materials company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.61%. The firm had revenue of $2.46 billion for the quarter. Research analysts forecast that Salzgitter will post -0.68 EPS for the current year.

Wall Street Analyst Weigh In

SZGPY has been the subject of several recent analyst reports. UBS Group downgraded shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Oddo Bhf upgraded shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research note on Thursday, February 5th. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold”.

About Salzgitter

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.