Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Rises By 1,033.3%

Key Points

• Short interest in Salzgitter AG surged by 1,033.3% in August, with the total reaching 3,400 shares by the end of the month, reflecting increasing bearish sentiment on the stock.
• Despite revenue exceeding expectations at $2.65 billion, Salzgitter reported a loss of ($0.12) earnings per share, missing the consensus estimate of $0.04.
• Equities analysts have a generally negative outlook, with Zacks Research downgrading the stock to a "strong sell" and an average rating of "Reduce" among analysts.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 3,400 shares, a growth of 1,033.3% from the August 15th total of 300 shares. Based on an average daily trading volume, of 1,600 shares, the short-interest ratio is presently 2.1 days. Approximately 0.0% of the company's shares are short sold. Approximately 0.0% of the company's shares are short sold. Based on an average daily trading volume, of 1,600 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Salzgitter from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. DZ Bank downgraded Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce".

Salzgitter Price Performance

Shares of SZGPY traded down $0.02 during mid-day trading on Thursday, hitting $2.62. The company's stock had a trading volume of 915 shares, compared to its average volume of 3,742. The firm has a 50-day moving average price of $2.64 and a 200 day moving average price of $2.49. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.05 and a beta of 1.46. 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 released its earnings results on Monday, August 11th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%.The firm had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.33 billion. As a group, equities analysts anticipate 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.

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