National Steel Company (NYSE:SID) Short Interest Update

National Steel Company (NYSE:SID) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 4,164,960 shares, a drop of 53.6% from the August 31st total of 8,982,742 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 9,525,120 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SID shares. Weiss Ratings reissued a “sell (d-)” rating on shares of National Steel in a research report on Monday, September 14th. Zacks Research lowered shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Three research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, National Steel presently has a consensus rating of “Strong Sell” and an average price target of $1.40.

National Steel Trading Down 1.4%

Shares of SID traded down $0.01 during mid-day trading on Monday, reaching $1.08. 1,043,387 shares of the company’s stock traded hands, compared to its average volume of 4,880,015. The stock has a market cap of $1.44 billion, a P/E ratio of -3.19 and a beta of 1.61. The stock’s 50-day moving average is $1.06 and its two-hundred day moving average is $1.16. National Steel has a 12 month low of $0.84 and a 12 month high of $2.20. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.15 and a quick ratio of 0.79.

National Steel (NYSE:SID) last issued its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%.The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. Research analysts forecast that National Steel will post -0.02 earnings per share for the current fiscal year.

About National Steel

Companhia Siderúrgica Nacional (CSN), historically associated with the “National Steel” name and traded in the United States under the symbol SID, is a Brazilian industrial company headquartered in São Paulo. Founded in 1941, CSN operates one of Brazil’s major integrated steelmaking complexes in Volta Redonda, in the state of Rio de Janeiro.

The company produces flat steel products, including galvanized, tinplate and other coated steels, as well as hot- and cold-rolled steel. Its products serve industries such as automotive manufacturing, construction, packaging, appliances and general industrial production.