Salzgitter AG (OTCMKTS:SZGPY) Sees Significant Growth in Short Interest

Salzgitter AG (OTCMKTS:SZGPY) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 1,594 shares, an increase of 26,466.7% from the June 15th total of 6 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 4,839 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of a number of recent research reports. Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a 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 analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Salzgitter has a consensus rating of “Moderate Buy”.

Salzgitter Price Performance

Salzgitter stock remained flat at $5.88 during trading hours on Friday. The company’s stock had a trading volume of 173 shares, compared to its average volume of 2,376. The stock’s fifty day moving average price is $6.15 and its 200 day moving average price is $5.66. Salzgitter has a 52-week low of $2.25 and a 52-week high of $7.99. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 65.33 and a beta of 1.72.

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, 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%.

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.