Salzgitter (OTCMKTS:SZGPY) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Salzgitter AG (OTCMKTS:SZGPY)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.84 and traded as high as $6.70. Salzgitter shares last traded at $6.70, with a volume of 155 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on SZGPY. Jefferies Financial Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a report on Wednesday, August 12th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Finally, Zacks Research upgraded shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Salzgitter Price Performance

The business has a fifty day simple moving average of $5.89 and a two-hundred day simple moving average of $5.85. The company has a market cap of $3.62 billion, a PE ratio of 55.83 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Salzgitter had a return on equity of 1.30% and a net margin of 0.65%. On average, equities research analysts predict that Salzgitter AG will post 0.22 EPS for the current 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.