Salzgitter AG (OTCMKTS:SZGPY) Short Interest Up 26,466.7% in June

Salzgitter AG (OTCMKTS:SZGPY) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 1,594 shares, an increase of 26,466.7% from the June 15th total of 6 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 4,839 shares, the short-interest ratio is currently 0.3 days.

Salzgitter Price Performance

OTCMKTS:SZGPY remained flat at $5.88 during trading hours on Friday. The company’s stock had a trading volume of 5 shares, compared to its average volume of 2,383. The firm has a 50-day moving average price of $6.16 and a 200-day moving average price of $5.66. The firm has a market capitalization of $3.18 billion, a PE ratio of 65.33 and a beta of 1.72. Salzgitter has a 1-year low of $2.25 and a 1-year high of $7.99.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.09. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.

Analysts Set New Price Targets

Several brokerages have commented on SZGPY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Finally, Citigroup reissued a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

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.