Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Declines By 99.7%

Salzgitter AG (OTCMKTS:SZGPY) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 6 shares, a decline of 99.7% from the May 31st total of 1,917 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 2,221 shares, the days-to-cover ratio is presently 0.0 days.

Salzgitter Price Performance

OTCMKTS:SZGPY remained flat at $5.97 during trading hours on Thursday. The company’s fifty day moving average price is $6.26 and its 200-day moving average price is $5.64. Salzgitter has a one year low of $2.25 and a one year high of $7.99. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 66.33 and a beta of 1.65.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.08 by $0.09. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.

Analysts Set New Price Targets

SZGPY has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Finally, Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Salzgitter presently has an average rating of “Moderate Buy”.

About Salzgitter

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.