Salzgitter AG (OTCMKTS:SZGPY) Stock Short Interest Climbs 493.0%

Salzgitter AG (OTCMKTS:SZGPY) saw a large increase in short interest in October. As of October 30th, there was short interest totaling 6,209 shares, an increase of 493.0% from the October 15th total of 1,047 shares. Based on an average trading volume of 3,061 shares, the short-interest ratio is currently 2.0 days. Currently, 0.0% of the company’s stock are sold short.

Salzgitter Stock Performance

Shares of OTCMKTS:SZGPY remained flat at $5.68 during midday trading on Friday. The company had a trading volume of 228 shares, compared to its average volume of 1,674. The stock has a fifty day moving average price of $5.70 and a 200 day moving average price of $5.81. Salzgitter has a 1 year low of $3.07 and a 1 year high of $7.99. The company has a market capitalization of $3.07 billion, a PE ratio of 47.33 and a beta of 1.74.

Salzgitter (OTCMKTS:SZGPY) last posted its earnings results on Thursday, November 12th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.23. Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.36 billion. On average, analysts expect that Salzgitter will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SZGPY. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research report on Friday, October 23rd. Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. UBS Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Friday, October 9th. Finally, Deutsche Bank restated a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Salzgitter presently has a consensus rating of “Moderate Buy”.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter. Its businesses include steel production, steel trading, tube manufacturing and technology, serving customers in industries such as automotive, construction, energy and manufacturing. The company produces a range of steel products, including flat and plate steel, and supplies tubes and pipes for industrial applications. Through its technology business, including KHS, Salzgitter also develops filling and packaging systems for the beverage and liquid-food industries.