National Steel (NYSE:SID) Shares Gap Down – Here’s Why

National Steel Company (NYSE:SID) shares gapped down prior to trading on Monday . The stock had previously closed at $0.9287, but opened at $0.8901. National Steel shares last traded at $0.9110, with a volume of 444,948 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a report on Wednesday, June 17th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, National Steel presently has an average rating of “Sell” and an average price target of $1.40.

National Steel Trading Down 3.0%

The firm’s 50-day moving average price is $1.03 and its 200 day moving average price is $1.31. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -3.64 and a beta of 1.57. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60.

National Steel (NYSE:SID) last issued its earnings results on Thursday, May 14th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.13). National Steel had a negative return on equity of 10.69% and a negative net margin of 3.92%.The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.08 billion. As a group, equities analysts expect that National Steel Company will post 0.11 EPS for the current year.

Institutional Investors Weigh In On National Steel

A hedge fund 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 the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 564,262 shares of the basic materials company’s stock after purchasing an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent reporting period.

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.