Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – What’s Next?

Shares of Salzgitter AG (OTCMKTS:SZGPY) saw unusually-strong trading volume on Tuesday . Approximately 10,010 shares traded hands during mid-day trading, an increase of 289% from the previous session’s volume of 2,576 shares.The stock last traded at $6.12 and had previously closed at $6.13.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SZGPY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Thursday. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Finally, Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Salzgitter Stock Up 2.5%

The stock has a 50 day moving average of $5.11 and a 200 day moving average of $3.75. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -15.62 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.14. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. As a group, analysts predict 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.