Salzgitter AG (OTCMKTS:SZGPY) Short Interest Up 91.7% in July

Key Points

• Salzgitter AG experienced a significant increase in short interest of 91.7% in July, raising the total to 6,900 shares as of July 15th.
• Analysts have downgraded the stock, with Oddo Bhf and DZ Bank cutting their ratings to "underperform" and "hold," respectively.
• The company's recent quarterly earnings report indicated a loss of ($0.07) per share, alongside a negative return on equity of 8.78%.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 6,900 shares, agrowthof91.7% from the June 30th total of 3,600 shares. Based on an average daily volume of 8,300 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 8,300 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SZGPY. DZ Bank cut shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Oddo Bhf downgraded Salzgitter to an "underperform" rating in a report on Tuesday, April 15th.

Salzgitter Stock Up 3.5%

Salzgitter stock traded up $0.09 during trading on Friday, hitting $2.66. The stock had a trading volume of 236 shares, compared to its average volume of 2,478. The stock's 50 day moving average is $2.51 and its two-hundred day moving average is $2.37. Salzgitter has a 1 year low of $1.40 and a 1 year high of $3.56. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -3.28 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last posted its earnings results on Monday, May 12th. The basic materials company reported ($0.07) earnings per share for the quarter. The business had revenue of $2.45 billion during the quarter. Salzgitter had a negative return on equity of 8.78% and a negative net margin of 4.16%. As a group, equities research analysts anticipate that Salzgitter will post -0.68 EPS for the current fiscal year.

Salzgitter Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 26th were issued a $0.0117 dividend. This represents a yield of 52.0%. The ex-dividend date of this dividend was Friday, May 23rd. Salzgitter's dividend payout ratio (DPR) is presently -1.23%.

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.