National Steel (NYSE:SID) Stock Price Up 4.3% – Here’s What Happened

National Steel Company (NYSE:SID)’s share price was up 4.3% during mid-day trading on Tuesday . The company traded as high as $1.08 and last traded at $1.0850. 862,583 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,482,755 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

Several equities research 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 downgraded shares of National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of National Steel in a report on Wednesday, June 17th. Three research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Trading Up 6.9%

The stock’s 50-day moving average is $0.97 and its two-hundred day moving average is $1.21. The stock has a market cap of $1.47 billion, a P/E ratio of -3.27 and a beta of 1.57. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.15 and a quick ratio of 0.79.

National Steel (NYSE:SID) last issued its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of $2.18 billion for 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%. Equities research analysts anticipate that National Steel Company will post 0.11 EPS for the current year.

Institutional Trading of National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP raised its position in National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 564,262 shares of the basic materials company’s stock after purchasing 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 SEC filing.

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.