Companhia Siderúrgica Nacional (NYSE:SID) Shares Down 3.3% – Here’s What Happened

Companhia Siderúrgica Nacional (NYSE:SID)’s stock price dropped 3.3% during trading on Wednesday . The stock traded as low as $1.61 and last traded at $1.62. Approximately 1,028,259 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 2,269,545 shares. The stock had previously closed at $1.67.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SID shares. UBS Group initiated coverage on shares of Companhia Siderúrgica Nacional in a research note on Wednesday, March 12th. They set a “sell” rating and a $1.30 target price for the company. StockNews.com downgraded shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Stock Performance

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 cap of $2.15 billion, a P/E ratio of -10.83 and a beta of 2.16. The stock’s 50-day moving average price is $1.58 and its 200-day moving average price is $1.78.

Companhia Siderúrgica Nacional (NYSE:SID) last released its quarterly earnings results on Wednesday, March 12th. The basic materials company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $11.85 billion. Companhia Siderúrgica Nacional had a negative net margin of 2.37% and a negative return on equity of 5.79%. Equities analysts anticipate that Companhia Siderúrgica Nacional will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several hedge funds have recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. boosted 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 purchasing an additional 9,314 shares in the last quarter. Savvy Advisors Inc. grew its holdings 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 acquiring an additional 12,987 shares during the last quarter. Virtus ETF Advisers LLC raised its position in Companhia Siderúrgica Nacional by 23.9% during the 4th quarter. Virtus ETF Advisers LLC now owns 85,026 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 16,414 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Companhia Siderúrgica Nacional in the fourth quarter worth approximately $35,000. Finally, Graham Capital Management L.P. boosted its position in Companhia Siderúrgica Nacional by 42.1% during the fourth quarter. Graham Capital Management L.P. now owns 99,374 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 29,464 shares during the last quarter.

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.