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

Salzgitter AG (OTCMKTS:SZGPY) shares saw an uptick in trading volume on Monday . 4,833 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SZGPY shares. Deutsche Bank Aktiengesellschaft reissued 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 reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Salzgitter Price Performance

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

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 the consensus estimate of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.02%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate 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.