Salzgitter AG (OTCMKTS:SZGPY) Short Interest Down 89.3% in August

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 148 shares, a decrease of 89.3% from the August 15th total of 1,378 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 405 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

Several brokerages 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. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Finally, Zacks Research raised 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 assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

Shares of SZGPY opened at $6.84 on Friday. Salzgitter has a fifty-two week low of $2.60 and a fifty-two week high of $7.99. The company’s fifty day moving average is $6.08 and its 200 day moving average is $5.87. The stock has a market capitalization of $3.70 billion, a PE ratio of 57.00 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) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a return on equity of 1.30% and a net margin of 0.65%.The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. As a group, research analysts forecast that Salzgitter will post 0.22 earnings per share for the current year.

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.