Salzgitter (OTCMKTS:SZGPY) Sees Large Volume Increase - Here's What Happened

Key Points

• Salzgitter AG experienced a significant increase in trading volume, with 20,000 shares traded on Thursday, marking a 384% increase from the previous session.
• The stock received multiple rating upgrades from analysts, including a shift from "strong sell" to "hold" by Zacks and an upgrade to "outperform" by BNP Paribas, with a consensus rating of "Hold."
• Despite reporting a loss of $0.12 EPS in its latest quarterly earnings, Salzgitter reported higher revenue of $2.65 billion, surpassing analyst estimates.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) saw strong trading volume on Thursday . 20,000 shares traded hands during trading, an increase of 384% from the previous session's volume of 4,135 shares.The stock last traded at $3.46 and had previously closed at $3.33.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Zacks Research upgraded shares of Salzgitter from a "strong sell" rating to a "hold" rating in a report on Monday, October 13th. BNP Paribas upgraded shares of Salzgitter to an "outperform" rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold".

Salzgitter Stock Performance

The firm's 50 day moving average is $2.90 and its 200-day moving average is $2.62. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -3.83 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The basic materials company reported ($0.12) earnings per share (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 9.40%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. As a group, research analysts predict that Salzgitter AG will post -0.68 EPS 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.

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