Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Salzgitter AG (OTCMKTS:SZGPY) saw strong trading volume on Friday. 7,169 shares changed hands during trading, an increase of 150% from the previous session’s volume of 2,868 shares. The stock last traded at $5.47 and had previously closed at $5.3350.

Wall Street Analyst Weigh In

SZGPY has been the topic of a number of research reports. UBS Group upgraded Salzgitter from a “neutral” rating to a “buy” rating in a research note on Friday. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research raised shares of Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Salzgitter Stock Up 12.3%

The company has a market capitalization of $2.96 billion, a P/E ratio of 45.58 and a beta of 1.70. The business has a 50 day moving average of $6.11 and a 200 day moving average of $5.91.

Salzgitter (OTCMKTS:SZGPY) last posted its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. On average, research analysts anticipate that Salzgitter AG will post 0.22 EPS for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.