Salzgitter AG (OTCMKTS:SZGPY) Short Interest Down 89.3% in August

Salzgitter AG (OTCMKTS:SZGPY) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 148 shares, a decrease of 89.3% from the August 15th total of 1,378 shares. Based on an average daily volume of 405 shares, the short-interest ratio is presently 0.4 days. Approximately 0.0% of the shares of the stock are sold short.

Salzgitter Stock Performance

SZGPY remained flat at $6.84 during trading on Thursday. The company’s stock had a trading volume of 550 shares, compared to its average volume of 208. The business has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $5.86. The stock has a market cap of $3.70 billion, a PE ratio of 57.00 and a beta of 1.70. Salzgitter has a 52 week low of $2.60 and a 52 week high of $7.99.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). Salzgitter had a return on equity of 1.30% and a net margin of 0.65%.The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. As a group, research analysts expect that Salzgitter will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SZGPY shares. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research raised Salzgitter to a “hold” rating in a report on Thursday, July 16th. Finally, Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.