National Steel Company (NYSE:SID) gapped down before the market opened on Friday . The stock had previously closed at $3.34, but opened at $3.27. National Steel shares last traded at $3.20, with a volume of 3,748,649 shares changing hands.

A number of brokerages recently weighed in on SID. Credit Suisse Group upgraded shares of National Steel from an “underperform” rating to a “neutral” rating in a report on Thursday, September 7th. BidaskClub upgraded shares of National Steel from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th.

The company has a market capitalization of $4.34 billion, a P/E ratio of 10.32 and a beta of 2.26. The firm’s 50 day moving average price is $3.02 and its 200 day moving average price is $2.53.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its position in National Steel by 343.8% in the first quarter. Morgan Stanley now owns 3,237,262 shares of the basic materials company’s stock valued at $9,453,000 after buying an additional 2,507,863 shares during the last quarter. Credit Suisse AG lifted its position in National Steel by 11.2% in the first quarter. Credit Suisse AG now owns 735,909 shares of the basic materials company’s stock valued at $2,150,000 after buying an additional 74,312 shares during the last quarter. UBS Group AG lifted its position in National Steel by 97.3% in the first quarter. UBS Group AG now owns 106,345 shares of the basic materials company’s stock valued at $310,000 after buying an additional 52,458 shares during the last quarter. KCG Holdings Inc. lifted its position in National Steel by 58.7% in the first quarter. KCG Holdings Inc. now owns 79,803 shares of the basic materials company’s stock valued at $233,000 after buying an additional 29,502 shares during the last quarter. Finally, Comerica Bank lifted its position in National Steel by 1.3% in the first quarter. Comerica Bank now owns 79,557 shares of the basic materials company’s stock valued at $190,000 after buying an additional 1,034 shares during the last quarter. 3.23% of the stock is currently owned by institutional investors.

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National Steel Company Profile

Companhia Siderurgica Nacional is a Brazil-based company engaged in the steel industry. The Company operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Company operates in five segments: Steel, Mining, Cement, Logistics and Energy.

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