Salzgitter AG (OTCMKTS:SZGPY) Stock Short Interest Rises 493.0%

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 6,209 shares, a growth of 493.0% from the October 15th total of 1,047 shares. Based on an average daily volume of 3,061 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.0% of the company’s stock are short sold.

Salzgitter Price Performance

Shares of OTCMKTS SZGPY remained flat at $5.73 during midday trading on Wednesday. The stock had a trading volume of 132 shares, compared to its average volume of 1,711. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 47.75 and a beta of 1.74. Salzgitter has a 12-month low of $3.07 and a 12-month high of $7.99. The stock has a 50 day moving average price of $5.73 and a 200-day moving average price of $5.81.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. On average, equities analysts anticipate that Salzgitter will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on SZGPY. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Zacks Research raised Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Finally, UBS Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Friday, October 9th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter. Its businesses include steel production, steel trading, tube manufacturing and technology, serving customers in industries such as automotive, construction, energy and manufacturing. The company produces a range of steel products, including flat and plate steel, and supplies tubes and pipes for industrial applications. Through its technology business, including KHS, Salzgitter also develops filling and packaging systems for the beverage and liquid-food industries.