Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Friday . The stock had previously closed at $6.10, but opened at $5.30. Salzgitter shares last traded at $5.49, with a volume of 2,110 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Finally, Citigroup restated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Salzgitter currently has a consensus rating of “Moderate Buy”.

Salzgitter Price Performance

The company’s 50-day moving average price is $6.26 and its two-hundred day moving average price is $5.64. The company has a market capitalization of $2.96 billion, a P/E ratio of 60.89 and a beta of 1.65.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion.

About Salzgitter

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.