Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Increases By 3,105.3%
by Kim Johansen · The Markets DailySalzgitter AG (OTCMKTS:SZGPY – Get Free Report) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 609 shares, an increase of 3,105.3% from the February 12th total of 19 shares. Based on an average daily volume of 1,852 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the company’s stock are sold short. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 1,852 shares, the days-to-cover ratio is currently 0.3 days.
Salzgitter Price Performance
OTCMKTS:SZGPY remained flat at $5.80 during midday trading on Tuesday. 38 shares of the company were exchanged, compared to its average volume of 2,691. The firm has a market capitalization of $3.13 billion, a PE ratio of -14.49 and a beta of 1.36. Salzgitter has a 1-year low of $2.09 and a 1-year high of $6.86. The business has a fifty day moving average price of $5.75 and a two-hundred day moving average price of $4.26.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on SZGPY shares. Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Finally, UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.
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About Salzgitter
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.