National Steel (NYSE:SID) Stock Price Up 6.9% – Still a Buy?

National Steel Company (NYSE:SID)’s share price shot up 6.9% during mid-day trading on Monday . The company traded as high as $1.0350 and last traded at $1.0450. 636,870 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 4,573,582 shares. The stock had previously closed at $0.9772.

Wall Street Analysts Forecast Growth

SID has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a report on Wednesday, June 17th. Zacks Research cut National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of National Steel from a “hold” rating to a “sell” rating in a research report on Saturday. Three research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Sell” and an average price target of $1.40.

National Steel Trading Down 1.5%

The stock has a market capitalization of $1.35 billion, a PE ratio of -2.99 and a beta of 1.57. The stock has a 50-day moving average price of $0.98 and a two-hundred day moving average price of $1.24. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.79 and a current ratio of 1.15.

National Steel (NYSE:SID) last announced its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. As a group, equities analysts forecast that National Steel Company will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On National Steel

A hedge fund recently raised its position in National Steel stock. HRT Financial LP lifted its position in National Steel Company (NYSE:SID) by 175.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 564,262 shares of the basic materials company’s stock after purchasing an additional 359,335 shares during the quarter. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent reporting period.

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.