Short Interest in Salzgitter AG (OTCMKTS:SZGPY) Decreases By 50.0%

Salzgitter AG (OTCMKTS:SZGPYGet Rating) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 200 shares, a drop of 50.0% from the April 30th total of 400 shares. Based on an average daily volume of 3,500 shares, the days-to-cover ratio is presently 0.1 days.

Several brokerages have commented on SZGPY. JPMorgan Chase & Co. dropped their price target on shares of Salzgitter from €45.00 ($47.87) to €44.00 ($46.81) in a research note on Tuesday, May 17th. Morgan Stanley raised their price target on shares of Salzgitter from €41.50 ($44.15) to €43.00 ($45.74) in a research note on Monday, April 11th. Kepler Capital Markets upgraded shares of Salzgitter from a “hold” rating to a “buy” rating and set a €50.00 ($53.19) price objective on the stock in a research note on Wednesday, February 16th. Credit Suisse Group raised their price objective on shares of Salzgitter from €20.00 ($21.28) to €33.00 ($35.11) in a research note on Tuesday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Salzgitter from €35.00 ($37.23) to €42.00 ($44.68) in a research note on Thursday, March 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Salzgitter presently has a consensus rating of “Hold” and an average target price of $36.13.

Shares of OTCMKTS:SZGPY opened at $3.97 on Friday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 3.91 and a beta of 1.17. Salzgitter has a 1-year low of $2.90 and a 1-year high of $5.16. The company has a 50 day moving average price of $4.30 and a 200 day moving average price of $3.84.

About Salzgitter (Get Rating)

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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