Short Interest in Companhia Siderúrgica Nacional (NYSE:SID) Drops By 14.8%

Companhia Siderúrgica Nacional (NYSE:SID) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 10,310,000 shares, a drop of 14.8% from the March 15th total of 12,100,000 shares. Based on an average trading volume of 2,300,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 0.8% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on shares of Companhia Siderúrgica Nacional in a report on Wednesday, March 12th. They issued a “sell” rating and a $1.30 price target for the company.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Companhia Siderúrgica Nacional during the 4th quarter worth about $35,000. First Affirmative Financial Network boosted its position in shares of Companhia Siderúrgica Nacional by 56.7% during the first quarter. First Affirmative Financial Network now owns 30,672 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 11,098 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Companhia Siderúrgica Nacional by 41.3% in the 4th 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 period. Savvy Advisors Inc. raised its stake in Companhia Siderúrgica Nacional by 56.1% during the 4th quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company’s stock worth $52,000 after buying an additional 12,987 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Companhia Siderúrgica Nacional in the fourth quarter valued at about $55,000.

Companhia Siderúrgica Nacional Stock Performance

Shares of NYSE:SID opened at $1.51 on Tuesday. The stock has a market capitalization of $2.00 billion, a P/E ratio of -10.03 and a beta of 1.82. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77. Companhia Siderúrgica Nacional has a 1-year low of $1.27 and a 1-year high of $2.89. The business has a 50-day moving average price of $1.56 and a two-hundred day moving average price of $1.70.

Companhia Siderúrgica Nacional (NYSE:SID) last announced its quarterly earnings data 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 net margin of 2.37% and a negative return on equity of 5.79%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $11.85 billion. Equities analysts predict that Companhia Siderúrgica Nacional will post -0.02 earnings per share for the current year.

About Companhia Siderúrgica Nacional

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.