Companhia Siderurgica Nacional (SID) Shares Gap Up to $4.10

Companhia Siderurgica Nacional (NYSE:SID) gapped up prior to trading on Monday . The stock had previously closed at $3.91, but opened at $4.10. Companhia Siderurgica Nacional shares last traded at $4.13, with a volume of 4742231 shares traded.

Several equities research analysts recently commented on SID shares. Zacks Investment Research downgraded Companhia Siderurgica Nacional from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. BTIG Research upgraded Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a report on Wednesday, January 23rd. Itau BBA Securities upgraded Companhia Siderurgica Nacional from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 21st. HSBC upgraded Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Finally, Morgan Stanley upgraded Companhia Siderurgica Nacional from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Companhia Siderurgica Nacional presently has an average rating of “Buy” and a consensus price target of $4.75.

The company has a debt-to-equity ratio of 2.31, a current ratio of 1.05 and a quick ratio of 0.61.

Several institutional investors have recently added to or reduced their stakes in SID. JPMorgan Chase & Co. lifted its position in shares of Companhia Siderurgica Nacional by 797.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,993,863 shares of the basic materials company’s stock valued at $4,546,000 after buying an additional 1,771,802 shares in the last quarter. Morgan Stanley lifted its position in shares of Companhia Siderurgica Nacional by 459.5% during the 3rd quarter. Morgan Stanley now owns 1,560,624 shares of the basic materials company’s stock valued at $3,558,000 after buying an additional 1,281,702 shares in the last quarter. Dorsey Wright & Associates purchased a new position in shares of Companhia Siderurgica Nacional during the 1st quarter valued at about $4,405,000. Renaissance Technologies LLC lifted its position in shares of Companhia Siderurgica Nacional by 764.2% during the 3rd quarter. Renaissance Technologies LLC now owns 393,200 shares of the basic materials company’s stock valued at $896,000 after buying an additional 347,700 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Companhia Siderurgica Nacional by 215.7% during the 4th quarter. Deutsche Bank AG now owns 392,589 shares of the basic materials company’s stock valued at $859,000 after buying an additional 268,228 shares in the last quarter. Institutional investors and hedge funds own 2.51% of the company’s stock.

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Companhia Siderurgica Nacional Company Profile (NYSE:SID)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil. It operates through five segments: Steel, Mining, Logistics, Cement, and Energy. It produces a line of steel products, including slabs, hot and cold-rolled, galvanized, and tin mill products for the distribution, packaging, automotive, home appliance, and construction industries.

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