Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) saw unusually-high trading volume on Thursday . 6,000 shares were traded during mid-day trading, an increase of 121% from the previous session’s volume of 2,718 shares.The stock last traded at $5.77 and had previously closed at $6.45.

Analysts Set New Price Targets

Several equities research analysts recently commented on SZGPY shares. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Zacks Research raised shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Finally, Citigroup reissued a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Salzgitter has a consensus rating of “Moderate Buy”.

Salzgitter Price Performance

The firm has a market capitalization of $3.17 billion, a PE ratio of 65.22 and a beta of 1.72. The stock has a 50-day moving average price of $6.24 and a 200-day moving average price of $5.75.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.53 billion. As a group, equities research analysts predict that Salzgitter AG will post 0.37 earnings per share for the current fiscal year.

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.