Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY) gapped up before the market opened on Thursday . The stock had previously closed at $6.25, but opened at $6.72. Salzgitter shares last traded at $6.72, with a volume of 519 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oddo Bhf upgraded shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research note on Thursday, February 5th. Finally, UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Salzgitter Stock Down 8.8%

The stock has a market cap of $3.30 billion, a P/E ratio of -15.27 and a beta of 1.41. The business has a 50 day moving average price of $5.29 and a two-hundred day moving average price of $3.84.

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.