Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Time to Sell?

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped down prior to trading on Thursday. The stock had previously closed at $5.25, but opened at $4.94. Salzgitter shares last traded at $4.94, with a volume of 594 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SZGPY shares. Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The stock’s 50 day simple moving average is $6.12 and its two-hundred day simple moving average is $5.90. The firm has a market capitalization of $2.67 billion, a PE ratio of 41.17 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Equities research analysts expect that Salzgitter AG will post 0.22 earnings per share for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.