Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Still a Buy?

Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Monday . The stock had previously closed at $6.27, but opened at $6.60. Salzgitter shares last traded at $6.60, with a volume of 290 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SZGPY shares. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Thursday, January 22nd. UBS Group cut Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research note on Thursday, February 5th. One equities research 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. According to MarketBeat.com, Salzgitter presently has a consensus rating of “Hold”.

Salzgitter Price Performance

The stock’s 50 day simple moving average is $5.51 and its two-hundred day simple moving average is $4.04. The firm has a market cap of $3.46 billion, a P/E ratio of -16.00 and a beta of 1.41.

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.