National Steel (NYSE:SID) Sees Strong Trading Volume – What’s Next?

Shares of National Steel Company (NYSE:SID) saw an uptick in trading volume on Thursday . Approximately 6,347,361 shares were traded during trading, an increase of 41% from the previous session’s volume of 4,502,838 shares.The stock last traded at $1.3050 and had previously closed at $1.17.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a report on Wednesday, June 17th. Finally, Wall Street Zen cut shares of National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Three equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Stock Down 3.2%

The company has a debt-to-equity ratio of 2.96, a current ratio of 1.15 and a quick ratio of 0.79. The firm has a market capitalization of $1.62 billion, a P/E ratio of -3.59 and a beta of 1.61. The business has a 50 day moving average price of $0.99 and a 200 day moving average price of $1.20.

National Steel (NYSE:SID) last announced its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%. On average, analysts predict that National Steel Company will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On National Steel

An institutional investor recently raised its stake in National Steel stock. HRT Financial LP increased its stake in shares of National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after acquiring 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.