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

Salzgitter AG (OTCMKTS:SZGPY) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 10,400 shares, a growth of 22.4% from the March 15th total of 8,500 shares. Based on an average daily trading volume, of 16,900 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the company’s stock are short sold.

Salzgitter Stock Performance

Salzgitter stock opened at $2.43 on Tuesday. The stock has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $1.95. The stock has a market capitalization of $1.31 billion, a P/E ratio of -6.23 and a beta of 1.37. Salzgitter has a 52 week low of $1.40 and a 52 week high of $3.01.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Friday, March 21st. The basic materials company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). Salzgitter had a negative return on equity of 4.08% and a negative net margin of 1.92%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.33 billion. Research analysts forecast that Salzgitter will post -0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SZGPY. DZ Bank upgraded shares of Salzgitter from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research note on Wednesday, March 26th. Oddo Bhf cut Salzgitter to an “underperform” rating in a research note on Tuesday, April 15th. Finally, Kepler Capital Markets raised shares of Salzgitter from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st.

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.