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

Shares of Salzgitter AG (OTCMKTS:SZGPY) saw unusually-strong trading volume on Tuesday . Approximately 10,010 shares changed hands during mid-day trading, an increase of 289% from the previous session’s volume of 2,576 shares.The stock last traded at $6.12 and had previously closed at $6.13.

Analysts Set New Price Targets

A number of research firms recently issued reports on SZGPY. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Thursday. UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. Finally, Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Salzgitter Price Performance

The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -15.62 and a beta of 1.41. The stock has a fifty day moving average of $5.11 and a two-hundred day moving average of $3.75.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%. On average, research analysts forecast that Salzgitter AG will post -0.68 EPS for the current year.

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.