Salzgitter (OTCMKTS:SZGPY) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY) 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 changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Kepler Capital Markets upgraded shares of Salzgitter from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. DZ Bank raised Salzgitter from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a report on Wednesday, March 26th. Finally, Oddo Bhf cut shares of Salzgitter to an “underperform” rating in a research report on Tuesday, April 15th.

Salzgitter Stock Down 1.2 %

The stock has a fifty day moving average of $2.53 and a 200-day moving average of $2.01. The stock has a market capitalization of $1.34 billion, a PE ratio of -6.33 and a beta of 1.47.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Friday, March 21st. The basic materials company reported ($0.30) EPS 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. Equities research analysts expect that Salzgitter AG will post -0.68 EPS for the current 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.