Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Up – Time to Buy?

Shares of Companhia Siderúrgica Nacional (NYSE:SID) gapped up before the market opened on Thursday . The stock had previously closed at $1.46, but opened at $1.57. Companhia Siderúrgica Nacional shares last traded at $1.59, with a volume of 273,422 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. UBS Group assumed coverage on shares of Companhia Siderúrgica Nacional in a research note on Wednesday. They set a “sell” rating and a $1.30 target price for the company.

Companhia Siderúrgica Nacional Price Performance

The stock’s 50 day moving average price is $1.48 and its 200-day moving average price is $1.82. The stock has a market capitalization of $2.10 billion, a PE ratio of -10.63 and a beta of 2.16. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77.

Institutional Trading of Companhia Siderúrgica Nacional

Hedge funds have recently added to or reduced their stakes in the business. Savvy Advisors Inc. purchased a new stake in Companhia Siderúrgica Nacional in the third quarter worth about $55,000. Caprock Group LLC purchased a new stake in shares of Companhia Siderúrgica Nacional during the third quarter valued at about $57,000. SBI Securities Co. Ltd. purchased a new stake in shares of Companhia Siderúrgica Nacional during the fourth quarter valued at about $35,000. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Companhia Siderúrgica Nacional by 41.3% during 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 buying an additional 9,314 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Companhia Siderúrgica Nacional during the fourth quarter valued at about $55,000.

Companhia Siderúrgica Nacional 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.