Companhia Siderurgica Nacional (NYSE:SID) Sees Large Drop in Short Interest
Companhia Siderurgica Nacional (NYSE:SID) saw a large drop in short interest in November. As of November 29th, there was short interest totalling 7,110,000 shares, a drop of 16.2% from the November 14th total of 8,480,000 shares. Based on an average trading volume of 3,420,000 shares, the short-interest ratio is presently 2.1 days. Currently, 0.5% of the company’s stock are sold short.
Several brokerages have recently weighed in on SID. BTIG Research cut Companhia Siderurgica Nacional from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. Zacks Investment Research cut Companhia Siderurgica Nacional from a “strong-buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a report on Tuesday, September 24th. Finally, TheStreet cut Companhia Siderurgica Nacional from a “b-” rating to a “c” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.
Shares of NYSE SID traded up $0.13 during mid-day trading on Thursday, hitting $3.41. The company had a trading volume of 3,770,900 shares, compared to its average volume of 3,833,624. The company has a market capitalization of $4.59 billion, a PE ratio of 3.59 and a beta of 1.90. The firm has a 50-day simple moving average of $2.97 and a two-hundred day simple moving average of $3.61. The company has a current ratio of 1.06, a quick ratio of 0.58 and a debt-to-equity ratio of 2.36. Companhia Siderurgica Nacional has a one year low of $2.15 and a one year high of $4.71.
Several hedge funds and other institutional investors have recently made changes to their positions in SID. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Companhia Siderurgica Nacional by 48.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 32,670 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 10,600 shares during the period. SG Americas Securities LLC grew its holdings in Companhia Siderurgica Nacional by 901.7% during the second quarter. SG Americas Securities LLC now owns 166,034 shares of the basic materials company’s stock worth $716,000 after purchasing an additional 149,459 shares during the period. First Trust Advisors LP bought a new position in Companhia Siderurgica Nacional during the second quarter worth about $120,000. Wrapmanager Inc. grew its holdings in Companhia Siderurgica Nacional by 27.1% during the second quarter. Wrapmanager Inc. now owns 26,958 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 5,744 shares during the period. Finally, F3Logic LLC grew its holdings in Companhia Siderurgica Nacional by 98.7% during the second quarter. F3Logic LLC now owns 27,799 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 13,808 shares during the period. Institutional investors own 3.87% of the company’s stock.
About Companhia Siderurgica Nacional
Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. The company operates in five segments: Steel, Mining, Cement, Logistics, and Energy. It offers flat steel, such as slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products that consist of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.
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