National Steel (NYSE:SID) Sees Large Volume Increase – What’s Next?

National Steel Company (NYSE:SID) shares saw unusually-high trading volume on Thursday . 6,347,361 shares changed hands during trading, an increase of 41% from the previous session’s volume of 4,502,838 shares.The stock last traded at $1.3050 and had previously closed at $1.17.

Wall Street Analyst Weigh In

SID has been the subject of several research reports. Wall Street Zen downgraded National Steel from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a research note on Wednesday, June 17th. Finally, Zacks Research downgraded shares of National Steel from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Three research analysts have rated the stock with a Sell rating, According to MarketBeat.com, National Steel currently has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Stock Performance

The stock’s 50-day simple moving average is $0.98 and its 200-day simple moving average is $1.21. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -3.60 and a beta of 1.61. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last released its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $2.18 billion during 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%. Analysts forecast that National Steel Company will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of National Steel

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

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.