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

Salzgitter AG (OTCMKTS:SZGPY) shares saw unusually-high trading volume on Friday . Approximately 13,001 shares traded hands during trading, an increase of 395% from the previous session’s volume of 2,625 shares.The stock last traded at $7.13 and had previously closed at $6.74.

Analyst Upgrades and Downgrades

SZGPY has been the subject of several analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Salzgitter currently has a consensus rating of “Hold”.

Salzgitter Trading Up 9.7%

The firm has a market capitalization of $3.86 billion, a P/E ratio of 79.22 and a beta of 1.56. The company has a 50-day moving average of $5.39 and a 200-day moving average of $5.19.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.02% and a net margin of 0.49%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion. Research analysts predict that Salzgitter AG will post 0.2 EPS for the current year.

Salzgitter Company Profile

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.