National Steel (NYSE:SID) Hits New 1-Year Low – Here’s Why

Shares of National Steel Company (NYSE:SID) hit a new 52-week low during trading on Tuesday . The company traded as low as $0.9050 and last traded at $0.9130, with a volume of 2849319 shares trading hands. The stock had previously closed at $0.9384.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Zacks Research upgraded National Steel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Sell” and an average target price of $1.40.

National Steel Stock Performance

The stock has a fifty day moving average price of $1.22 and a two-hundred day moving average price of $1.46. The company has a market cap of $1.19 billion, a P/E ratio of -3.74 and a beta of 1.59. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.11 and a quick ratio of 0.73.

National Steel (NYSE:SID) last issued its quarterly earnings data on Thursday, May 14th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). National Steel had a negative return on equity of 10.69% and a negative net margin of 3.92%.The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.08 billion. On average, equities analysts forecast that National Steel Company will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.