Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Rises By 77.5%

Salzgitter AG (OTCMKTS:SZGPY) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 3,722 shares, a growth of 77.5% from the December 31st total of 2,097 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,848 shares, the short-interest ratio is presently 1.3 days. Based on an average daily trading volume, of 2,848 shares, the short-interest ratio is presently 1.3 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft upgraded Salzgitter from a “hold” rating to a “buy” rating in a research report on Tuesday, November 25th. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Finally, BNP Paribas Exane upgraded Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Salzgitter currently has an average rating of “Hold”.

Salzgitter Price Performance

OTCMKTS:SZGPY opened at $5.41 on Friday. The company’s 50-day moving average is $4.88 and its two-hundred day moving average is $3.61. Salzgitter has a 1-year low of $1.72 and a 1-year high of $5.88. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -13.52 and a beta of 1.38.

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