Salzgitter AG (OTCMKTS:SZGPY) Short Interest Up 217.4% in May

Salzgitter AG (OTCMKTS:SZGPY) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,917 shares, a growth of 217.4% from the May 14th total of 604 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 3,538 shares, the short-interest ratio is presently 0.5 days.

Salzgitter Stock Performance

SZGPY opened at $7.10 on Friday. Salzgitter has a 52-week low of $2.09 and a 52-week high of $7.99. The firm has a market capitalization of $3.84 billion, a PE ratio of 78.89 and a beta of 1.65. The business’s 50-day simple moving average is $5.94 and its 200 day simple moving average is $5.46.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (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 for the quarter, compared to analyst estimates of $2.53 billion.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SZGPY shares. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Finally, Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Salzgitter currently has an average rating of “Moderate Buy”.

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.