National Steel Company (NYSE:SID) Short Interest Down 34.2% in August

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

National Steel Stock Performance

Shares of SID stock opened at $1.10 on Friday. The stock’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.17. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.79 and a current ratio of 1.15. National Steel has a 1 year low of $0.84 and a 1 year high of $2.20. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -3.25 and a beta of 1.61.

National Steel (NYSE:SID) last posted its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. Analysts predict that National Steel will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

SID has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a research report on Monday. Wall Street Zen cut shares of National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Zacks Research downgraded National Steel from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Company Profile

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.