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.

Companhia Siderurgica Nacional (NYSE:SID) last announced its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.14). The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. Companhia Siderurgica Nacional had a net margin of 10.33% and a return on equity of 23.93%. Sell-side analysts expect that Companhia Siderurgica Nacional will post 0.45 earnings per share for the current fiscal year.

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.

See Also: How is diluted EPS different from basic EPS?

Receive News & Ratings for Companhia Siderurgica Nacional Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Companhia Siderurgica Nacional and related companies with MarketBeat.com's FREE daily email newsletter.