Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Should You Sell?

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $5.75, but opened at $5.24. Salzgitter shares last traded at $5.24, with a volume of 1,503 shares.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of several research reports. Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Finally, UBS Group cut 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Salzgitter Stock Performance

The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -34.93 and a beta of 1.56. The company has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $4.81.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Thursday, March 19th. The basic materials company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $2.46 billion during the quarter. Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.60%. As a group, equities analysts anticipate that Salzgitter AG will post 0.2 earnings per share 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.