Salzgitter (OTCMKTS:SZGPY) Reaches New 12-Month High – Time to Buy?

Shares of Salzgitter AG (OTCMKTS:SZGPY) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $2.86 and last traded at $2.86, with a volume of 1385 shares traded. The stock had previously closed at $2.61.

Wall Street Analysts Forecast Growth

Separately, DZ Bank raised shares of Salzgitter from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th.

Salzgitter Stock Performance

The stock has a market cap of $1.55 billion, a PE ratio of -7.33 and a beta of 1.57. The company’s 50 day simple moving average is $1.90 and its 200 day simple moving average is $1.77.

Salzgitter Company Profile

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.