National Steel (NYSE:SID) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

National Steel Company (NYSE:SID) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.50 and traded as high as $1.66. National Steel shares last traded at $1.62, with a volume of 2,734,560 shares trading hands.

Analyst Ratings Changes

SID has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of National Steel in a research report on Wednesday, October 8th. Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, National Steel currently has an average rating of “Sell” and a consensus target price of $1.30.

National Steel Price Performance

The company has a 50-day moving average of $1.47 and a 200-day moving average of $1.50. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.95 and a current ratio of 1.35. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -5.57, a PEG ratio of 0.40 and a beta of 1.67.

National Steel (NYSE:SID) last announced its earnings results on Thursday, July 31st. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.09). The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $10.98 billion. National Steel had a negative net margin of 5.06% and a negative return on equity of 13.90%. As a group, equities research analysts predict that National Steel Company will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On National Steel

Large investors have recently bought and sold shares of the company. Inspire Investing LLC lifted its stake in shares of National Steel by 155.7% in the 1st quarter. Inspire Investing LLC now owns 31,681 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 19,289 shares during the period. XTX Topco Ltd raised its holdings in National Steel by 1,323.3% during the first quarter. XTX Topco Ltd now owns 299,898 shares of the basic materials company’s stock worth $501,000 after purchasing an additional 278,828 shares in the last quarter. Inspire Advisors LLC lifted its position in National Steel by 36.8% in the first quarter. Inspire Advisors LLC now owns 91,555 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 24,642 shares during the period. Headlands Technologies LLC boosted its holdings in National Steel by 41.4% in the 1st quarter. Headlands Technologies LLC now owns 62,710 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 18,359 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in National Steel by 0.6% in the 1st quarter. American Century Companies Inc. now owns 2,187,196 shares of the basic materials company’s stock valued at $3,653,000 after purchasing an additional 13,632 shares in the last quarter.

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.