Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Thursday . The stock had previously closed at $6.00, but opened at $4.92. Salzgitter shares last traded at $4.92, with a volume of 191 shares traded.

Wall Street Analysts Forecast Growth

SZGPY has been the topic of several research reports. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Thursday, January 22nd. UBS Group lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a report 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, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Salzgitter Trading Down 3.4%

The stock’s fifty day moving average price is $5.81 and its 200-day moving average price is $4.32. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -12.75 and a beta of 1.36.

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.