Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Time to Sell?

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Thursday . The stock had previously closed at $7.0450, but opened at $6.06. Salzgitter shares last traded at $5.98, with a volume of 6,005 shares trading hands.

Wall Street Analyst Weigh In

SZGPY has been the subject of a number of analyst reports. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Salzgitter Trading Down 13.2%

The business has a 50-day moving average price of $6.16 and a 200-day moving average price of $5.56. The firm has a market cap of $3.23 billion, a P/E ratio of 66.44 and a beta of 1.65.

Salzgitter (OTCMKTS:SZGPY) last posted its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.09. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.53 billion. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.

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.