Companhia Siderurgica Nacional (NYSE:SID) Shares Gap Down to $2.91

Companhia Siderurgica Nacional (NYSE:SID) gapped down prior to trading on Monday . The stock had previously closed at $2.97, but opened at $2.91. Companhia Siderurgica Nacional shares last traded at $2.91, with a volume of 7,199,000 shares changing hands.

A number of equities research analysts have recently weighed in on SID shares. TheStreet downgraded Companhia Siderurgica Nacional from a “b-” rating to a “c” rating in a report on Friday, October 25th. BTIG Research downgraded Companhia Siderurgica Nacional from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. started coverage on Companhia Siderurgica Nacional in a report on Friday. They issued a “hold” rating for the company. ValuEngine upgraded Companhia Siderurgica Nacional from a “strong sell” rating to a “sell” rating in a report on Friday, January 31st. Finally, Citigroup downgraded Companhia Siderurgica Nacional from a “neutral” rating to a “sell” rating in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $3.75.

The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.58 and a current ratio of 1.06. The firm has a market capitalization of $4.04 billion, a P/E ratio of 5.77 and a beta of 1.81. The stock has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $3.31.

Several hedge funds and other institutional investors have recently modified their holdings of SID. Quantbot Technologies LP bought a new position in Companhia Siderurgica Nacional during the 4th quarter worth $26,000. Tower Research Capital LLC TRC grew its stake in Companhia Siderurgica Nacional by 749.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,497 shares of the basic materials company’s stock worth $27,000 after buying an additional 7,497 shares during the last quarter. Cadence Capital Management LLC bought a new position in Companhia Siderurgica Nacional during the 3rd quarter worth $32,000. Sigma Planning Corp bought a new position in Companhia Siderurgica Nacional during the 3rd quarter worth $47,000. Finally, Squarepoint Ops LLC bought a new position in Companhia Siderurgica Nacional during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 3.89% of the company’s stock.

About Companhia Siderurgica Nacional (NYSE:SID)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. The company operates in five segments: Steel, Mining, Cement, Logistics, and Energy. It offers flat steel, such as slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products that consist of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.

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