Salzgitter AG (OTCMKTS:SZGPY) Sees Large Drop in Short Interest

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 290 shares, a drop of 52.4% from the February 26th total of 609 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 950 shares, the short-interest ratio is currently 0.3 days.

Salzgitter Price Performance

OTCMKTS SZGPY opened at $4.59 on Friday. Salzgitter has a 12-month low of $2.09 and a 12-month high of $6.86. The company has a market capitalization of $2.48 billion, a PE ratio of -30.60 and a beta of 1.36. The firm’s 50 day moving average is $5.65 and its 200-day moving average is $4.44.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Thursday, March 19th. The basic materials company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $2.46 billion for the quarter. Salzgitter had a negative return on equity of 1.61% and a negative net margin of 0.78%. As a group, sell-side analysts expect that Salzgitter will post -0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SZGPY. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Finally, UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Salzgitter has a consensus rating of “Hold”.

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.