National Steel (NYSE:SID) Shares Gap Down – What’s Next?

National Steel Company (NYSE:SID)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.38, but opened at $1.30. National Steel shares last traded at $1.2750, with a volume of 3,082,641 shares traded.

Wall Street Analysts Forecast Growth

SID has been the subject of several research reports. Zacks Research cut shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Monday. UBS Group increased their target price 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, 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.com, the company presently has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Trading Down 8.3%

The company has a debt-to-equity ratio of 2.49, a current ratio of 1.32 and a quick ratio of 0.91. The business’s 50-day simple moving average is $1.76 and its two-hundred day simple moving average is $1.64. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -7.44 and a beta of 1.67.

Institutional Trading of National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP boosted its stake in National Steel Company (NYSE:SID) by 175.3% in 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 purchasing 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 reporting period.

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.