Salzgitter AG (OTCMKTS:SZGPY – Get Rating) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 900 shares, an increase of 350.0% from the June 30th total of 200 shares. Based on an average daily trading volume, of 4,600 shares, the days-to-cover ratio is currently 0.2 days.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on SZGPY shares. DZ Bank cut shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Salzgitter from €43.00 ($43.88) to €32.00 ($32.65) and set a “hold” rating on the stock in a research report on Thursday, July 14th. Jefferies Financial Group lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. Credit Suisse Group reduced their target price on shares of Salzgitter from €30.00 ($30.61) to €28.60 ($29.18) and set an “underperform” rating on the stock in a report on Thursday, June 16th. Finally, Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “equal weight” rating in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.52.
Salzgitter Stock Up 6.9 %
Shares of Salzgitter stock opened at $2.47 on Friday. The firm has a market cap of $1.48 billion, a PE ratio of 2.32 and a beta of 1.37. Salzgitter has a 12-month low of $2.13 and a 12-month high of $5.16. The company’s fifty day simple moving average is $2.97 and its two-hundred day simple moving average is $3.72.
Salzgitter Announces Dividend
The company also recently declared a dividend, which was paid on Thursday, June 23rd. Shareholders of record on Monday, June 6th were issued a $0.0512 dividend. This represents a yield of 1.26%. The ex-dividend date of this dividend was Friday, June 3rd.
Salzgitter Company Profile
Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through five segments: Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology. The Strip Steel segment manufactures branded and special steels, such as hot-rolled strip steel and steel sheets, sections, tailored blanks, and components for the construction industry.
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