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

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $6.60, but opened at $5.71. Salzgitter shares last traded at $5.71, with a volume of 182 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SZGPY shares. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. UBS Group cut shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research note on Thursday, February 5th. Finally, Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Salzgitter presently has a consensus rating of “Hold”.

Salzgitter Trading Down 8.4%

The stock has a 50 day moving average of $5.26 and a 200-day moving average of $3.82. The stock has a market capitalization of $3.32 billion, a P/E ratio of -15.35 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. Research analysts anticipate that Salzgitter AG will post -0.68 EPS 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.