National Steel (NYSE:SID) Sets New 1-Year Low – Here’s Why

National Steel Company (NYSE:SID) shares hit a new 52-week low on Tuesday . The stock traded as low as $0.8641 and last traded at $0.8590, with a volume of 2443855 shares changing hands. The stock had previously closed at $0.9004.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued 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 issued a Sell rating to the company’s stock. According to MarketBeat, National Steel has an average rating of “Sell” and a consensus price target of $1.40.

National Steel Price Performance

The business’s fifty day moving average price is $1.04 and its 200-day moving average price is $1.32. The company has a market capitalization of $1.11 billion, a P/E ratio of -3.51 and a beta of 1.57. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60.

National Steel (NYSE:SID) last announced its quarterly earnings data 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). The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations 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 predict that National Steel Company will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in National Steel stock. HRT Financial LP boosted its position in shares of National Steel Company (NYSE:SID) by 175.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

About National Steel

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.