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

Salzgitter AG (OTCMKTS:SZGPY) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 2,097 shares, a decrease of 87.2% from the December 15th total of 16,335 shares. Based on an average daily trading volume, of 3,781 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 3,781 shares, the short-interest ratio is presently 0.6 days.

Salzgitter Stock Up 0.1%

Shares of Salzgitter stock traded up $0.01 during trading on Monday, reaching $5.38. The company’s stock had a trading volume of 887 shares, compared to its average volume of 1,999. The business has a 50 day moving average price of $4.20 and a 200-day moving average price of $3.32. Salzgitter has a 12-month low of $1.58 and a 12-month high of $5.47. The company has a market capitalization of $2.91 billion, a P/E ratio of -13.44 and a beta of 1.38.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%. Research analysts predict that Salzgitter will post -0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SZGPY shares. UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, December 8th. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft raised Salzgitter from a “hold” rating to a “buy” rating in a report on Tuesday, November 25th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Friday, December 5th. Finally, BNP Paribas raised shares of Salzgitter to an “outperform” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.