Salzgitter (OTCMKTS:SZGPY) Trading Down 12.4% – Time to Sell?
by Tristan Rich · The Markets DailySalzgitter AG (OTCMKTS:SZGPY – Get Free Report)’s stock price dropped 12.4% on Monday . The company traded as low as $4.47 and last traded at $4.47. Approximately 785 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 3,054 shares. The stock had previously closed at $5.10.
Analysts Set New Price Targets
SZGPY has been the topic of a number of analyst reports. Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Thursday, February 5th. UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Finally, Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Salzgitter has an average rating of “Hold”.
Read Our Latest Stock Report on Salzgitter
Salzgitter Stock Performance
The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -11.17 and a beta of 1.36. The business’s 50 day moving average is $5.81 and its 200 day moving average is $4.34.
Salzgitter Company Profile
Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.
Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.