Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY) shares saw strong trading volume on Tuesday . 9,150 shares changed hands during trading, an increase of 43% from the previous session’s volume of 6,405 shares.The stock last traded at $3.3950 and had previously closed at $3.33.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SZGPY shares. BNP Paribas raised shares of Salzgitter to an “outperform” rating in a report on Friday, October 3rd. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Monday. Finally, Zacks Research raised shares of Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Salzgitter Price Performance

The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -3.57 and a beta of 1.50. The company has a 50-day simple moving average of $3.22 and a two-hundred day simple moving average of $2.75.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.64 billion. Research analysts anticipate that Salzgitter AG will post -0.68 EPS for the current year.

About Salzgitter

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.