Salzgitter AG (OTCMKTS:SZGPY) Sees Significant Growth in Short Interest

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 1,594 shares, a growth of 26,466.7% from the June 15th total of 6 shares. Based on an average daily trading volume, of 4,839 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SZGPY shares. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Finally, Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

Shares of SZGPY remained flat at $5.88 during trading hours on Friday. 173 shares of the stock traded hands, compared to its average volume of 2,376. The company has a 50-day moving average price of $6.15 and a 200 day moving average price of $5.66. Salzgitter has a 52-week low of $2.25 and a 52-week high of $7.99. The company has a market cap of $3.18 billion, a P/E ratio of 65.33 and a beta of 1.72.

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

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.