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

Key Points

• Salzgitter AG experienced a significant reduction in short interest, dropping by 40.6% in July, with only 4,100 shares short as of July 31st.
• The company reported a loss of ($0.12) EPS for the last quarter, missing consensus estimates and highlighted a negative net margin of 4.45%.
• DZ Bank downgraded Salzgitter's rating from "strong-buy" to "hold" on June 17th, indicating a bearish outlook on the stock.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 4,100 shares, adropof40.6% from the July 15th total of 6,900 shares. Based on an average daily volume of 4,300 shares, the short-interest ratio is currently 1.0 days. Currently,0.0% of the shares of the stock are short sold. Currently,0.0% of the shares of the stock are short sold. Based on an average daily volume of 4,300 shares, the short-interest ratio is currently 1.0 days.

Salzgitter Stock Performance

Shares of OTCMKTS:SZGPY traded up $0.07 during midday trading on Thursday, hitting $2.60. 500 shares of the stock were exchanged, compared to its average volume of 3,940. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.02 and a beta of 1.41. The business's 50-day moving average price is $2.57 and its 200 day moving average price is $2.42. Salzgitter has a 12 month low of $1.3990 and a 12 month high of $3.56.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.33 billion. Salzgitter had a negative return on equity of 9.45% and a negative net margin of 4.45%. As a group, sell-side analysts expect that Salzgitter will post -0.68 EPS for the current year.

Analysts Set New Price Targets

Separately, DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold".

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.