Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Friday . The stock had previously closed at $6.60, but opened at $5.71. Salzgitter shares last traded at $5.71, with a volume of 182 shares trading hands.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of a number of analyst reports. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. Oddo Bhf upgraded shares of Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. UBS Group lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold”.

Salzgitter Trading Down 8.8%

The company has a market cap of $3.30 billion, a price-to-earnings ratio of -15.27 and a beta of 1.41. The stock’s 50-day moving average is $5.29 and its 200-day moving average is $3.85.

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.