Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Rises By 22.4%

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 10,400 shares, an increase of 22.4% from the March 15th total of 8,500 shares. Based on an average daily trading volume, of 16,900 shares, the short-interest ratio is presently 0.6 days. Approximately 0.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SZGPY shares. DZ Bank upgraded Salzgitter from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research report on Wednesday, March 26th. Oddo Bhf cut shares of Salzgitter to an “underperform” rating in a report on Tuesday, April 15th. Finally, Kepler Capital Markets raised shares of Salzgitter from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st.

Salzgitter Price Performance

OTCMKTS SZGPY traded up $0.01 on Friday, hitting $2.43. The company had a trading volume of 628 shares, compared to its average volume of 5,219. Salzgitter has a 12-month low of $1.40 and a 12-month high of $3.01. The company’s fifty day moving average price is $2.41 and its 200-day moving average price is $1.95. The company has a market capitalization of $1.31 billion, a PE ratio of -6.23 and a beta of 1.37.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Friday, March 21st. The basic materials company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.04). The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Salzgitter had a negative net margin of 1.92% and a negative return on equity of 4.08%. On average, sell-side analysts anticipate that Salzgitter will post -0.68 EPS for the current year.

About Salzgitter

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.