Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares saw an uptick in trading volume on Monday . Approximately 4,632 shares were traded during mid-day trading, an increase of 66% from the previous session’s volume of 2,788 shares.The stock last traded at $4.86 and had previously closed at $4.96.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SZGPY. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Salzgitter presently has a consensus rating of “Moderate Buy”.

Salzgitter Trading Down 0.2%

The company has a 50 day moving average of $6.25 and a 200-day moving average of $5.64. The firm has a market capitalization of $2.68 billion, a P/E ratio of 55.00 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 EPS for the quarter, beating the consensus estimate of $0.08 by $0.09. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%.

Salzgitter Company Profile

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.