Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) saw unusually-high trading volume on Tuesday . Approximately 22,550 shares traded hands during mid-day trading, an increase of 336% from the previous session’s volume of 5,167 shares.The stock last traded at $3.31 and had previously closed at $3.22.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of a number of recent research reports. BNP Paribas upgraded shares of Salzgitter to an “outperform” rating in a research note on Friday, October 3rd. Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Salzgitter Price Performance

The stock’s 50 day moving average is $3.01 and its 200-day moving average is $2.67. The company has a market capitalization of $1.77 billion, a P/E ratio of -3.81 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Monday, August 11th. The basic materials company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.33 billion. Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%. On average, equities research analysts anticipate that Salzgitter AG 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.