National Steel (NYSE:SID) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of National Steel (NYSE:SID) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. UBS Group boosted their price objective 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 research report on Wednesday, January 21st. Three analysts have rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Stock Down 0.3%

SID stock opened at $1.42 on Monday. The stock’s 50 day simple moving average is $1.76 and its 200 day simple moving average is $1.64. National Steel has a fifty-two week low of $1.24 and a fifty-two week high of $2.20. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32. The company has a market cap of $1.88 billion, a P/E ratio of -8.33 and a beta of 1.67.

Institutional Investors Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP raised its stake in shares of National Steel Company (NYSE:SID) by 175.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 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.