National Steel Company (NYSE:SID) Short Interest Update

National Steel Company (NYSE:SID) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 8,982,742 shares, a drop of 34.2% from the August 15th total of 13,646,452 shares. Based on an average daily trading volume, of 1,750,158 shares, the short-interest ratio is presently 5.1 days. Approximately 0.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Zacks Research cut National Steel from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Wall Street Zen lowered National Steel from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research note on Monday. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Price Performance

SID traded down $0.06 during trading on Friday, reaching $1.12. The stock had a trading volume of 5,176,122 shares, compared to its average volume of 4,835,548. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.79 and a current ratio of 1.15. The business has a 50-day moving average of $1.05 and a 200-day moving average of $1.17. National Steel has a one year low of $0.84 and a one year high of $2.20. The stock has a market cap of $1.49 billion, a PE ratio of -3.28 and a beta of 1.61.

National Steel (NYSE:SID) last posted its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that National Steel will post 0.05 EPS for the current fiscal year.

About National Steel

Companhia Siderúrgica Nacional (CSN), historically associated with the “National Steel” name and traded in the United States under the symbol SID, is a Brazilian industrial company headquartered in São Paulo. Founded in 1941, CSN operates one of Brazil’s major integrated steelmaking complexes in Volta Redonda, in the state of Rio de Janeiro.

The company produces flat steel products, including galvanized, tinplate and other coated steels, as well as hot- and cold-rolled steel. Its products serve industries such as automotive manufacturing, construction, packaging, appliances and general industrial production.