National Steel (NYSE:SID) Hits New 52-Week Low – Here’s What Happened

National Steel Company (NYSE:SID)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $1.11 and last traded at $1.1350, with a volume of 2336627 shares trading hands. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SID. UBS Group upped their price target on National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a report on Monday, December 15th. Zacks Research lowered shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of National Steel in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Trading Down 3.8%

The company has a market cap of $1.52 billion, a P/E ratio of -4.77 and a beta of 1.67. The business has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $1.63. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32.

Institutional Trading of National Steel

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

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.