National Steel (NYSE:SID) Shares Up 7.3% – Still a Buy?

National Steel Company (NYSE:SID) shot up 7.3% during mid-day trading on Tuesday . The stock traded as high as $1.25 and last traded at $1.2550. 6,169,402 shares were traded during mid-day trading, an increase of 14% from the average session volume of 5,426,245 shares. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SID. UBS Group increased their target price on shares of National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a report on Monday, December 15th. Zacks Research downgraded shares of National Steel from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of National Steel in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, National Steel presently has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Trading Up 4.7%

The firm’s 50-day simple moving average is $1.73 and its 200 day simple moving average is $1.64. The firm has a market cap of $1.62 billion, a P/E ratio of -7.26 and a beta of 1.67. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 2.49.

Institutional Investors Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP increased its holdings in National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 564,262 shares of the basic materials company’s stock after buying an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent SEC filing.

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.