National Steel (NYSE:SID) Reaches New 12-Month Low – What’s Next?

Shares of National Steel Company (NYSE:SID) reached a new 52-week low during trading on Wednesday . The stock traded as low as $1.0150 and last traded at $1.0350, with a volume of 7836605 shares traded. The stock had previously closed at $1.05.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SID. Weiss Ratings reiterated a “sell (d-)” rating on shares of National Steel in a research note on Wednesday, June 17th. Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus price target of $1.40.

National Steel Stock Performance

The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60. The firm has a 50-day simple moving average of $1.26 and a two-hundred day simple moving average of $1.49. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.99 and a beta of 1.54.

National Steel (NYSE:SID) last announced its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.13). The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.08 billion. National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. As a group, sell-side analysts forecast that National Steel Company will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP lifted its stake in National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 564,262 shares of the basic materials company’s stock after acquiring 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.