Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Drops By 92.7%

Key Points

• Salzgitter AG experienced a significant decline in short interest, dropping by 92.7% from 4,100 shares in July to just 300 shares by August 15th.
• The company's latest quarterly earnings report revealed a loss of ($0.12) per share, significantly missing analysts' expectations despite revenues of $2.65 billion.
• Recent analyst ratings for Salzgitter show a downward trend, with DZ Bank and Zacks Research both lowering their ratings, leading to an average rating of "Reduce."

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 15th, there was short interest totaling 300 shares, adecreaseof92.7% from the July 31st total of 4,100 shares. Based on an average daily volume of 1,700 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 1,700 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SZGPY shares. DZ Bank cut 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, August 21st. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce".

Salzgitter Stock Performance

Shares of SZGPY remained flat at $2.25 during midday trading on Friday. 31 shares of the stock were exchanged, compared to its average volume of 613. The firm has a market capitalization of $1.22 billion, a P/E ratio of -2.62 and a beta of 1.46. The business has a fifty day moving average price of $2.62 and a two-hundred day moving average price of $2.48. Salzgitter has a fifty-two week low of $1.40 and a fifty-two week high of $3.56.

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 the consensus estimate of $0.04 by ($0.16). Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.45%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.33 billion. Research analysts expect that Salzgitter will post -0.68 earnings per share for the current year.

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.