Salzgitter (OTCMKTS:SZGPY) Stock Price Up 19.7% – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY)’s share price rose 19.7% during trading on Wednesday . The stock traded as high as $5.22 and last traded at $5.22. Approximately 120 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 3,126 shares. The stock had previously closed at $4.36.

Analysts Set New Price Targets

SZGPY has been the topic of several recent research reports. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. Oddo Bhf upgraded Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. Finally, UBS Group lowered Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Salzgitter has a consensus rating of “Hold”.

Salzgitter Stock Up 12.1%

The firm has a market capitalization of $2.82 billion, a PE ratio of -34.80 and a beta of 1.54. The stock has a 50-day moving average price of $5.46 and a 200 day moving average price of $4.57.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Thursday, March 19th. The basic materials company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $2.46 billion during the quarter. Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.61%. As a group, equities analysts predict that Salzgitter AG will post -0.68 earnings per share for the current fiscal year.

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.