Salzgitter (OTCMKTS:SZGPY) Stock Price Down 12.4% – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY) shares were down 12.4% during trading on Monday . The company traded as low as $4.47 and last traded at $4.47. 785 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,054 shares. The stock had previously closed at $5.10.

Analyst Upgrades and Downgrades

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

Salzgitter Price Performance

The stock has a 50-day moving average price of $5.78 and a 200-day moving average price of $4.37. The company has a market capitalization of $2.41 billion, a P/E ratio of -11.12 and a beta of 1.36.

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.