Salzgitter AG (OTCMKTS:SZGPY) Sees Significant 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) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 4,100 shares, adecreaseof40.6% from the July 15th total of 6,900 shares. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is currently 1.0 days. Approximately0.0% of the company's shares are sold short. Approximately0.0% of the company's shares are sold short. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. DZ Bank lowered shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. Zacks Research cut shares of Salzgitter from a "hold" rating to a "strong sell" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce".

Salzgitter Price Performance

OTCMKTS SZGPY remained flat at $2.60 during trading hours on Friday. 1 shares of the company's stock were exchanged, compared to its average volume of 909. The firm has a fifty day moving average price of $2.58 and a 200-day moving average price of $2.44. Salzgitter has a 52 week low of $1.3990 and a 52 week high of $3.56. The company has a market capitalization of $1.41 billion, a PE ratio of -3.02 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last posted its earnings results on Monday, August 11th. The basic materials company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.45%. As a group, research analysts forecast that Salzgitter will post -0.68 EPS for the current fiscal year.

Salzgitter Company Profile

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.