National Steel (NYSE:SID) Stock Price Down 3.7% – Here’s Why

Shares of National Steel Company (NYSE:SID) dropped 3.7% during trading on Wednesday . The stock traded as low as $1.16 and last traded at $1.1650. Approximately 931,058 shares changed hands during trading, a decline of 81% from the average daily volume of 4,792,502 shares. The stock had previously closed at $1.21.

Analyst Ratings Changes

Separately, Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Sell” and a consensus price target of $1.40.

National Steel Stock Down 3.7%

The firm has a market cap of $1.54 billion, a PE ratio of -4.85 and a beta of 1.54. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.73 and a current ratio of 1.11. The company’s 50-day simple moving average is $1.30 and its two-hundred day simple moving average is $1.52.

National Steel (NYSE:SID) last announced its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.08) earnings per share 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 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%. On average, analysts predict that National Steel Company will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Steel

A hedge fund recently raised its stake 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 13F filing with the Securities & Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after buying 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.

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.