National Steel (NYSE:SID) Trading Up 7.3% – Still a Buy?

National Steel Company (NYSE:SID)’s share price traded up 7.3% on Tuesday . The company traded as high as $1.25 and last traded at $1.2550. 6,169,402 shares changed hands during trading, an increase of 14% from the average session volume of 5,426,245 shares. The stock had previously closed at $1.17.

Analyst Ratings Changes

A number of research firms have issued reports on SID. Weiss Ratings restated a “sell (d)” rating on shares of National Steel in a report on Wednesday, January 21st. UBS Group boosted their price objective on National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a research report on Monday, December 15th. Finally, Zacks Research lowered National Steel from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Three research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $1.40.

National Steel Trading Down 0.4%

The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 2.49. The stock has a market capitalization of $1.54 billion, a P/E ratio of -4.85 and a beta of 1.67. The business’s fifty day simple moving average is $1.71 and its two-hundred day simple moving average is $1.63.

Institutional Investors Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP boosted its position in shares of National Steel Company (NYSE:SID) by 175.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after acquiring 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 quarter.

About National Steel

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.