Salzgitter (OTCMKTS:SZGPY) Stock Price Down 5.8% – What’s Next?

Shares of Salzgitter AG (OTCMKTS:SZGPY) fell 5.8% during mid-day trading on Wednesday . The stock traded as low as $6.0725 and last traded at $6.3119. 409 shares traded hands during trading, a decline of 90% from the average session volume of 4,043 shares. The stock had previously closed at $6.70.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Finally, UBS Group cut Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Salzgitter Price Performance

The company has a market capitalization of $3.50 billion, a P/E ratio of -16.20 and a beta of 1.41. The company has a 50 day moving average of $5.45 and a 200-day moving average of $3.97.

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.