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

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $6.00, but opened at $4.92. Salzgitter shares last traded at $4.92, with a volume of 191 shares.

Wall Street Analyst Weigh In

Several research firms have commented on SZGPY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. Finally, UBS Group cut shares of Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. One investment 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 company. According to MarketBeat, the company currently has an average rating of “Hold”.

Salzgitter Trading Down 15.1%

The business’s 50-day simple moving average is $5.80 and its two-hundred day simple moving average is $4.30. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -12.30 and a beta of 1.36.

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.