National Steel (NYSE:SID) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

National Steel Company (NYSE:SID) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.60 and traded as high as $1.95. National Steel shares last traded at $1.8850, with a volume of 6,900,859 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on SID. UBS Group upped 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. Weiss Ratings restated a “sell (d)” rating on shares of National Steel in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Sell” and a consensus target price of $1.40.

National Steel Trading Down 3.8%

The company has a market capitalization of $2.50 billion, a P/E ratio of -11.09 and a beta of 1.66. The company has a 50-day simple moving average of $1.77 and a 200 day simple moving average of $1.60. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32.

National Steel (NYSE:SID) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). National Steel had a negative net margin of 2.88% and a negative return on equity of 7.77%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.08 billion. Sell-side analysts expect that National Steel Company will post -0.02 earnings per share for the current year.

National Steel Company Profile

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.