Salzgitter (OTCMKTS:SZGPY) Stock Price Passes Above 200-Day Moving Average - Here's Why

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.01 and traded as high as $2.47. Salzgitter shares last traded at $2.47, with a volume of 2,013 shares traded.

Analyst Ratings Changes

A number of research firms have issued reports on SZGPY. Morgan Stanley reissued an "underweight" rating on shares of Salzgitter in a research report on Wednesday, March 26th. DZ Bank upgraded shares of Salzgitter from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Kepler Capital Markets upgraded Salzgitter from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Oddo Bhf downgraded shares of Salzgitter to an "underperform" rating in a research report on Tuesday, April 15th.

Salzgitter Stock Performance

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -6.33 and a beta of 1.47. The company has a 50 day moving average price of $2.53 and a two-hundred day moving average price of $2.01.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last posted its quarterly earnings data on Friday, March 21st. The basic materials company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.04). Salzgitter had a negative return on equity of 4.08% and a negative net margin of 1.92%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.33 billion. On average, equities analysts expect that Salzgitter AG will post -0.68 earnings per share for the current fiscal 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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