Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY) saw unusually-strong trading volume on Tuesday . Approximately 6,521 shares changed hands during mid-day trading, an increase of 226% from the previous session’s volume of 2,000 shares.The stock last traded at $5.29 and had previously closed at $5.0750.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SZGPY shares. BNP Paribas upgraded shares of Salzgitter to an “outperform” rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft raised Salzgitter from a “hold” rating to a “buy” rating in a report on Tuesday, November 25th. Zacks Research upgraded shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, December 8th. Finally, Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Salzgitter Stock Down 1.2%

The firm has a fifty day moving average of $4.05 and a 200-day moving average of $3.24. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -12.82 and a beta of 1.38.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. As a group, research analysts forecast that Salzgitter AG will post -0.68 EPS for the current fiscal year.

Salzgitter Company Profile

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.