National Steel (NYSE:SID) Stock Price Up 6.5% – Still a Buy?

National Steel Company (NYSE:SID)’s stock price traded up 6.5% during mid-day trading on Wednesday . The company traded as high as $1.06 and last traded at $1.0650. 593,632 shares traded hands during trading, a decline of 87% from the average daily volume of 4,646,031 shares. The stock had previously closed at $1.00.

Wall Street Analyst Weigh In

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

National Steel Trading Up 6.5%

The company has a debt-to-equity ratio of 2.60, a current ratio of 1.11 and a quick ratio of 0.73. The stock’s 50 day moving average is $1.13 and its 200-day moving average is $1.40. The company has a market capitalization of $1.41 billion, a P/E ratio of -4.44 and a beta of 1.58.

National Steel (NYSE:SID) last posted its earnings results on Thursday, May 14th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). National Steel had a negative return on equity of 10.69% and a negative net margin of 3.92%.The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.08 billion. As a group, equities research analysts anticipate that National Steel Company will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP raised its position in shares of National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after buying an additional 359,335 shares during the quarter. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent quarter.

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.