Salzgitter AG (OTCMKTS:SZGPY) Short Interest Update

Key Points

• Short interest surged 273.6% to 553 shares as of September 15, up from 148 shares at the end of August. Despite the increase, short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 1.8.
• Analyst sentiment is favorable: five analysts rate Salzgitter a Buy and three rate it a Hold, producing a MarketBeat consensus rating of “Moderate Buy.”
• Salzgitter reported quarterly revenue of $2.61 billion, exceeding estimates of $2.42 billion, but posted an EPS loss of $0.09 that missed the expected $0.06 profit. Shares opened at $6.10, with a market capitalization of approximately $3.30 billion.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 553 shares, a growth of 273.6% from the August 31st total of 148 shares. Based on an average daily volume of 308 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts have recently commented on SZGPY shares. Jefferies Financial Group upgraded shares of Salzgitter from a "hold" rating to a "buy" rating in a research report on Monday, July 13th. Morgan Stanley upgraded Salzgitter from an "underweight" rating to an "overweight" rating in a research report on Monday, June 1st. Zacks Research raised Salzgitter to a "hold" rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Salzgitter in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Salzgitter has an average rating of "Moderate Buy".

Salzgitter Price Performance

Shares of OTCMKTS:SZGPY opened at $6.10 on Friday. The company's fifty day moving average price is $6.18 and its 200-day moving average price is $5.86. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 50.83 and a beta of 1.70. Salzgitter has a one year low of $2.97 and a one year high of $7.99.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.15). The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. As a group, equities research analysts expect that Salzgitter will post 0.22 EPS for the current year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.

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