Salzgitter (OTCMKTS:SZGPY) Sees Large Volume Increase – Here’s Why

Shares of Salzgitter AG (OTCMKTS:SZGPY) saw unusually-high trading volume on Monday . Approximately 4,833 shares were traded during trading, an increase of 79% from the previous session’s volume of 2,702 shares.The stock last traded at $7.0450 and had previously closed at $7.10.

Wall Street Analyst Weigh In

SZGPY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Salzgitter has a consensus rating of “Moderate Buy”.

Salzgitter Trading Down 0.8%

The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 78.28 and a beta of 1.65. The firm’s 50 day simple moving average is $6.00 and its 200-day simple moving average is $5.49.

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

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.