Salzgitter AG (OTCMKTS:SZGPY) Shares Shorted: Short Interest Up 493.0% in October

Salzgitter AG (OTCMKTS:SZGPY) saw a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 6,209 shares, a growth of 493.0% from the October 15th total of 1,047 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 3,061 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analyst Weigh In

SZGPY has been the subject of a number of research analyst reports. Zacks Research upgraded Salzgitter to a “hold” rating in a report on Thursday, July 16th. Citigroup restated a “neutral” rating on shares of Salzgitter in a research note on Friday, October 23rd. Deutsche Bank reaffirmed a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Finally, UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Friday, October 9th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

Shares of Salzgitter stock remained flat at $5.68 during trading on Thursday. The stock had a trading volume of 228 shares, compared to its average volume of 1,663. The stock has a market cap of $3.07 billion, a P/E ratio of 47.33 and a beta of 1.74. The company has a fifty day simple moving average of $5.72 and a 200-day simple moving average of $5.81. Salzgitter has a 12 month low of $3.07 and a 12 month high of $7.99.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Thursday, November 12th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.23. Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. As a group, sell-side analysts anticipate that Salzgitter will post 0.14 EPS for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter. Its businesses include steel production, steel trading, tube manufacturing and technology, serving customers in industries such as automotive, construction, energy and manufacturing. The company produces a range of steel products, including flat and plate steel, and supplies tubes and pipes for industrial applications. Through its technology business, including KHS, Salzgitter also develops filling and packaging systems for the beverage and liquid-food industries.