Salzgitter AG (OTCMKTS:SZGPY) Short Interest Update

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 1,917 shares, an increase of 217.4% from the May 14th total of 604 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 3,538 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SZGPY. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Finally, Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Salzgitter Price Performance

SZGPY opened at $7.10 on Friday. The business has a 50 day simple moving average of $6.00 and a two-hundred day simple moving average of $5.47. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 78.89 and a beta of 1.65. Salzgitter has a one year low of $2.09 and a one year high of $7.99.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.02% and a net margin of 0.49%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion.

Salzgitter Company Profile

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.