Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY) saw an uptick in trading volume on Friday . 13,001 shares were traded during mid-day trading, an increase of 395% from the previous session’s volume of 2,625 shares.The stock last traded at $7.13 and had previously closed at $6.74.

Analysts Set New Price Targets

Several brokerages recently weighed in on SZGPY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Salzgitter presently has an average rating of “Hold”.

Salzgitter Stock Up 9.7%

The firm has a 50-day moving average price of $5.44 and a 200 day moving average price of $5.20. The firm has a market capitalization of $3.86 billion, a PE ratio of 79.22 and a beta of 1.56.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.02% and a net margin of 0.49%.The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion. Equities research analysts expect that Salzgitter AG will post 0.2 earnings per share for the current 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.