National Steel (NYSE:SID) Sees Strong Trading Volume – Still a Buy?

National Steel Company (NYSE:SID) saw unusually-strong trading volume on Friday . Approximately 11,794,831 shares were traded during trading, an increase of 154% from the previous session’s volume of 4,635,570 shares.The stock last traded at $0.98 and had previously closed at $1.01.

Wall Street Analysts Forecast Growth

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

National Steel Stock Down 2.1%

The company has a quick ratio of 0.73, a current ratio of 1.11 and a debt-to-equity ratio of 2.60. The company has a market cap of $1.31 billion, a PE ratio of -4.12 and a beta of 1.58. The stock has a 50-day moving average of $1.09 and a 200-day moving average of $1.36.

National Steel (NYSE:SID) last posted its quarterly earnings data on Thursday, May 14th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.13). The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.08 billion. National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. Sell-side analysts predict that National Steel Company will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP boosted its stake in National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.