National Steel (NYSE:SID) Shares Gap Down – Should You Sell?
by Jessica Moore · The Cerbat GemNational Steel Company (NYSE:SID – Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $1.38, but opened at $1.32. National Steel shares last traded at $1.2750, with a volume of 1,203,260 shares.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on SID shares. Wall Street Zen downgraded shares of National Steel from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Zacks Research downgraded shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of National Steel in a research note on Wednesday, June 17th. Three analysts have rated the stock with a Sell rating, According to MarketBeat, National Steel presently has an average rating of “Strong Sell” and a consensus target price of $1.40.
Read Our Latest Research Report on National Steel
National Steel Stock Down 6.9%
The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96. The firm has a market cap of $1.70 billion, a P/E ratio of -3.78 and a beta of 1.61. The stock’s fifty day moving average is $1.02 and its two-hundred day moving average is $1.19.
National Steel (NYSE:SID – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. As a group, research analysts anticipate that National Steel Company will post 0.05 earnings per share for the current year.
Institutional Trading of National Steel
An institutional investor recently raised its stake in National Steel stock. HRT Financial LP boosted its holdings in shares of National Steel Company (NYSE:SID – Free Report) by 175.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 564,262 shares of the basic materials company’s stock after purchasing an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent reporting period.
National Steel Company Profile
Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.