National Steel (NYSE:SID) Stock Price Down 3.7% – Here’s Why

National Steel Company (NYSE:SID) shares were down 3.7% on Wednesday . The stock traded as low as $1.16 and last traded at $1.1650. Approximately 931,058 shares traded hands during trading, a decline of 81% from the average daily volume of 4,792,502 shares. The stock had previously closed at $1.21.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Sell” and a consensus target price of $1.40.

National Steel Stock Performance

The company’s 50-day moving average price is $1.30 and its 200 day moving average price is $1.52. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.73 and a current ratio of 1.11. The stock has a market capitalization of $1.54 billion, a PE ratio of -4.85 and a beta of 1.54.

National Steel (NYSE:SID) last posted its earnings results on Thursday, May 14th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.13). National Steel had a negative return on equity of 10.69% and a negative net margin of 3.92%.The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.08 billion. On average, equities research analysts expect that National Steel Company will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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