Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY) saw unusually-high trading volume on Thursday . Approximately 5,523 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 2,955 shares.The stock last traded at $5.41 and had previously closed at $5.50.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SZGPY shares. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Thursday, January 22nd. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Oddo Bhf upgraded Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, BNP Paribas Exane upgraded Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Salzgitter Stock Performance

The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -13.52 and a beta of 1.38. The business has a fifty day simple moving average of $4.88 and a 200 day simple moving average of $3.61.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%.The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.64 billion. On average, equities research analysts anticipate that Salzgitter AG will post -0.68 EPS 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.