Salzgitter (OTCMKTS:SZGPY) Sees Large Volume Increase – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares saw unusually-high trading volume on Monday . Approximately 8,000 shares were traded during mid-day trading, an increase of 23% from the previous session’s volume of 6,526 shares.The stock last traded at $3.3250 and had previously closed at $3.12.

Wall Street Analyst Weigh In

SZGPY has been the topic of a number of research analyst reports. BNP Paribas upgraded Salzgitter to an “outperform” rating in a report on Friday, October 3rd. Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Salzgitter has a consensus rating of “Hold”.

Salzgitter Stock Performance

The company has a 50 day moving average of $3.23 and a 200 day moving average of $2.75. The firm has a market cap of $1.78 billion, a P/E ratio of -3.82 and a beta of 1.50.

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

Salzgitter Company Profile

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.