Salzgitter AG (OTCMKTS:SZGPY) Sees Large Growth in Short Interest

Salzgitter AG (OTCMKTS:SZGPY) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 3,722 shares, an increase of 77.5% from the December 31st total of 2,097 shares. Based on an average daily trading volume, of 2,848 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,848 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SZGPY. Deutsche Bank Aktiengesellschaft upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Tuesday, November 25th. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Finally, Zacks Research raised shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Salzgitter Stock Performance

OTCMKTS:SZGPY opened at $5.41 on Friday. Salzgitter has a 12-month low of $1.72 and a 12-month high of $5.88. The stock has a 50-day moving average price of $4.88 and a 200 day moving average price of $3.62. The stock has a market capitalization of $2.93 billion, a P/E ratio of -13.52 and a beta of 1.38.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%.The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. On average, research analysts predict that Salzgitter will post -0.68 earnings per share for the current fiscal year.

Salzgitter Company Profile

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.