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

National Steel Company (NYSE:SID) reached a new 52-week low during trading on Monday . The company traded as low as $0.8850 and last traded at $0.9040, with a volume of 688852 shares traded. The stock had previously closed at $0.9856.

Analyst Ratings Changes

SID has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. Zacks Research upgraded National Steel from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Sell” and an average target price of $1.40.

National Steel Stock Performance

The firm has a fifty day simple moving average of $1.08 and a 200-day simple moving average of $1.34. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -3.90 and a beta of 1.57.

National Steel (NYSE:SID) last released its earnings results on Thursday, May 14th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.13). The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.08 billion. National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. Analysts forecast that National Steel Company will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP raised its holdings in shares of National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 564,262 shares of the basic materials company’s stock after acquiring an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent reporting period.

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.