National Steel (NYSE:SID) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of National Steel Company (NYSE:SID) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.61 and traded as high as $1.70. National Steel shares last traded at $1.6950, with a volume of 6,813,955 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SID. UBS Group increased their price target on National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a report on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of National Steel in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average price target of $1.40.

National Steel Stock Down 0.3%

The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 2.49. The company has a fifty day simple moving average of $1.79 and a 200-day simple moving average of $1.61. The firm has a market cap of $2.25 billion, a P/E ratio of -9.97 and a beta of 1.66.

National Steel (NYSE:SID) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.08 billion. National Steel had a negative net margin of 2.88% and a negative return on equity of 7.77%. On average, equities analysts anticipate that National Steel Company will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in National Steel stock. HRT Financial LP boosted its holdings in National Steel Company (NYSE:SID) by 175.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 564,262 shares of the basic materials company’s stock after buying an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent SEC filing.

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.