National Steel (NYSE:SID) Trading Up 6.9% – Time to Buy?

National Steel Company (NYSE:SID)’s stock price rose 6.9% on Monday . The company traded as high as $1.0350 and last traded at $1.0450. 636,870 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,573,582 shares. The stock had previously closed at $0.9772.

Analysts Set New Price Targets

SID has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. Wall Street Zen downgraded National Steel from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Research lowered National Steel from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus price target of $1.40.

National Steel Stock Up 4.9%

The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96. The firm has a market capitalization of $1.36 billion, a P/E ratio of -3.01 and a beta of 1.57. The stock’s 50-day simple moving average is $0.98 and its 200-day simple moving average is $1.25.

National Steel (NYSE:SID) last announced its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. As a group, research analysts predict that National Steel Company will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP grew its stake in shares of National Steel Company (NYSE:SID) by 175.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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.