Salzgitter AG (OTCMKTS:SZGPY) Shares Shorted: Short Interest Up 87.2% in September

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 1,035 shares, an increase of 87.2% from the September 15th total of 553 shares. Based on an average daily trading volume, of 9,849 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Salzgitter Price Performance

SZGPY stock opened at $5.32 on Thursday. The stock has a market capitalization of $2.87 billion, a P/E ratio of 44.29 and a beta of 1.70. Salzgitter has a fifty-two week low of $2.97 and a fifty-two week high of $7.99. The business has a 50-day moving average of $6.05 and a 200-day moving average of $5.93.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results 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). Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. Equities analysts expect that Salzgitter will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SZGPY shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Friday, October 9th. Jefferies Financial Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Finally, Zacks Research raised shares of Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.