Salzgitter AG (OTCMKTS:SZGPY) Short Interest Down 89.3% in August

Key Points

• Short interest plunged 89.3% in August to 148 shares, representing approximately 0.0% of Salzgitter’s outstanding shares and a short-interest ratio of 0.4 days.
• Analyst sentiment is generally positive: five analysts rate the stock “Buy” and three rate it “Hold,” giving Salzgitter a consensus rating of “Moderate Buy.”
• Salzgitter shares recently traded at $6.84, near their 52-week high, while the company’s latest quarterly results missed EPS estimates at a $0.09 loss but exceeded revenue expectations with $2.61 billion.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 148 shares, a drop of 89.3% from the August 15th total of 1,378 shares. Based on an average trading volume of 405 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

SZGPY has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Salzgitter to a "hold" rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Salzgitter in a research report on Friday, September 4th. Citigroup reiterated a "neutral" rating on shares of Salzgitter in a research report on Wednesday, May 20th. Jefferies Financial Group raised Salzgitter from a "hold" rating to a "buy" rating in a research note on Monday, July 13th. Finally, Morgan Stanley raised Salzgitter from an "underweight" rating to an "overweight" rating in a report on Monday, June 1st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Salzgitter currently has a consensus rating of "Moderate Buy".

Salzgitter Price Performance

Shares of SZGPY remained flat at $6.84 on Thursday. The company had a trading volume of 550 shares, compared to its average volume of 208. Salzgitter has a 1-year low of $2.60 and a 1-year high of $7.99. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 57.00 and a beta of 1.70. The company's fifty day moving average is $6.04 and its 200-day moving average is $5.86.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. Salzgitter had a return on equity of 1.30% and a net margin of 0.65%. As a group, equities analysts anticipate that Salzgitter will post 0.22 EPS for the current year.

About Salzgitter

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.

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