Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – What’s Next?

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Thursday . The stock had previously closed at $7.0450, but opened at $6.06. Salzgitter shares last traded at $5.98, with a volume of 6,005 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Finally, Citigroup restated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The company has a 50 day simple moving average of $6.20 and a 200 day simple moving average of $5.58. The stock has a market capitalization of $3.30 billion, a PE ratio of 67.78 and a beta of 1.65.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.53 billion.

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.