Companhia Siderúrgica Nacional (NYSE:SID) Shares Down 4.8% – Here’s What Happened

Companhia Siderúrgica Nacional (NYSE:SIDGet Free Report) traded down 4.8% on Friday . The stock traded as low as $1.47 and last traded at $1.48. 1,348,466 shares traded hands during trading, a decline of 40% from the average session volume of 2,236,125 shares. The stock had previously closed at $1.55.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group assumed coverage on Companhia Siderúrgica Nacional in a report on Wednesday, March 12th. They set a “sell” rating and a $1.30 target price on the stock. Wall Street Zen upgraded Companhia Siderúrgica Nacional from a “hold” rating to a “buy” rating in a report on Friday, May 16th.

Check Out Our Latest Stock Report on Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional Trading Down 5.8%

The company has a fifty day simple moving average of $1.59 and a two-hundred day simple moving average of $1.61. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.34 and a quick ratio of 0.93. The company has a market capitalization of $1.94 billion, a P/E ratio of -9.73 and a beta of 1.83.

Companhia Siderúrgica Nacional (NYSE:SIDGet Free Report) last posted its earnings results on Wednesday, March 12th. The basic materials company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. Companhia Siderúrgica Nacional had a negative return on equity of 5.79% and a negative net margin of 2.37%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $11.85 billion. On average, analysts forecast that Companhia Siderúrgica Nacional will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Several hedge funds and other institutional investors have recently made changes to their positions in SID. SBI Securities Co. Ltd. acquired a new stake in shares of Companhia Siderúrgica Nacional in the fourth quarter valued at about $35,000. Kapitalo Investimentos Ltda grew its position in shares of Companhia Siderúrgica Nacional by 1,530.8% in the first quarter. Kapitalo Investimentos Ltda now owns 25,979 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 24,386 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in shares of Companhia Siderúrgica Nacional by 41.3% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 31,855 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 9,314 shares during the last quarter. First Affirmative Financial Network grew its position in shares of Companhia Siderúrgica Nacional by 56.7% in the first quarter. First Affirmative Financial Network now owns 30,672 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 11,098 shares during the last quarter. Finally, Savvy Advisors Inc. grew its position in shares of Companhia Siderúrgica Nacional by 56.1% in the fourth quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 12,987 shares during the last quarter.

About Companhia Siderúrgica Nacional

(Get Free Report)

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.

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