Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Rises By 26.6%

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 367 shares, a growth of 26.6% from the March 15th total of 290 shares. Based on an average daily volume of 4,017 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Finally, UBS Group lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with 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, Salzgitter presently has a consensus rating of “Hold”.

Salzgitter Stock Performance

SZGPY opened at $5.64 on Friday. The company has a fifty day moving average price of $5.43 and a two-hundred day moving average price of $4.67. Salzgitter has a 52 week low of $2.09 and a 52 week high of $6.86. The firm has a market capitalization of $3.05 billion, a PE ratio of -37.60 and a beta of 1.54.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Thursday, March 19th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.61%. The firm had revenue of $2.46 billion during the quarter. Equities analysts forecast that Salzgitter will post -0.68 EPS 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.