National Steel (NYSE:SID) Hits New 52-Week Low – Here’s What Happened

Shares of National Steel Company (NYSE:SID) reached a new 52-week low during trading on Tuesday . The stock traded as low as $0.8641 and last traded at $0.8590, with a volume of 2443855 shares traded. The stock had previously closed at $0.9004.

Analyst Ratings Changes

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

National Steel Price Performance

The firm’s 50-day moving average price is $1.02 and its 200-day moving average price is $1.30. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60. The stock has a market capitalization of $1.16 billion, a PE ratio of -3.63 and a beta of 1.57.

National Steel (NYSE:SID) last released its quarterly earnings results on Wednesday, August 12th. The basic materials company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. National Steel had a negative return on equity of 10.69% and a negative net margin of 3.92%.The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. On average, equities analysts forecast that National Steel Company will post 0.11 EPS for the current fiscal year.

Institutional Trading of National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP boosted its position in shares of National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after buying an additional 359,335 shares during the quarter. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

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.