Salzgitter AG (OTCMKTS:SZGPY) Sees Significant Drop in Short Interest

Salzgitter AG (OTCMKTS:SZGPY) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 5,700 shares, a decline of 27.8% from the February 13th total of 7,900 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 1,400 shares, the short-interest ratio is currently 4.1 days.

Salzgitter Price Performance

OTCMKTS SZGPY traded up $0.02 on Tuesday, hitting $2.88. 8,507 shares of the company’s stock were exchanged, compared to its average volume of 4,730. The firm’s 50-day moving average price is $1.95 and its two-hundred day moving average price is $1.78. Salzgitter has a fifty-two week low of $1.40 and a fifty-two week high of $2.90. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -7.39 and a beta of 1.57.

Analysts Set New Price Targets

Separately, DZ Bank upgraded Salzgitter from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th.

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.