Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Wednesday . The stock had previously closed at $6.2916, but opened at $5.90. Salzgitter shares last traded at $5.7950, with a volume of 2,189 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on SZGPY shares. Citigroup restated a “neutral” rating on shares of Salzgitter in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. UBS Group lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Finally, Oddo Bhf upgraded shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Salzgitter presently has a consensus rating of “Hold”.

Salzgitter Stock Down 3.4%

The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -14.49 and a beta of 1.36. The business has a 50 day moving average of $5.67 and a 200 day moving average of $4.17.

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.