Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Drops By 99.7%

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 6 shares, a drop of 99.7% from the May 31st total of 1,917 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 2,221 shares, the short-interest ratio is presently 0.0 days.

Salzgitter Price Performance

OTCMKTS SZGPY remained flat at $5.97 during midday trading on Thursday. Salzgitter has a fifty-two week low of $2.25 and a fifty-two week high of $7.99. The company has a fifty day moving average of $6.26 and a 200 day moving average of $5.64. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 66.33 and a beta of 1.65.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Salzgitter currently has a consensus rating of “Moderate Buy”.

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.