Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Still a Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares saw an uptick in trading volume on Tuesday . 9,150 shares were traded during trading, an increase of 43% from the previous session’s volume of 6,405 shares.The stock last traded at $3.3950 and had previously closed at $3.33.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SZGPY. BNP Paribas raised shares of Salzgitter to an “outperform” rating in a research note on Friday, October 3rd. Zacks Research raised shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a report on Monday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Salzgitter Stock Performance

The stock has a market cap of $1.84 billion, a PE ratio of -3.95 and a beta of 1.50. The business has a 50 day moving average price of $3.18 and a two-hundred day moving average price of $2.73.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%.The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. As a group, research analysts anticipate that Salzgitter AG will post -0.68 earnings per share for the current year.

Salzgitter Company Profile

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.