National Steel (NYSE:SID) Sees Unusually-High Trading Volume – Should You Buy?

National Steel Company (NYSE:SID) saw unusually-high trading volume on Tuesday. Approximately 5,908,612 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 5,161,783 shares. The stock last traded at $1.2450 and had previously closed at $1.24.

Analysts Set New Price Targets

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 report on Thursday, August 13th. Wall Street Zen downgraded National Steel from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research report on Monday, September 14th. Three research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average target price of $1.40.

National Steel Trading Up 0.4%

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 company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -3.63 and a beta of 1.55. The business’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $1.15.

National Steel (NYSE:SID) last announced its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. Research analysts anticipate that National Steel Company will post -0.02 EPS for the current year.

About National Steel

Companhia Siderúrgica Nacional, commonly known as CSN or National Steel, is a Brazilian industrial company engaged primarily in the production and sale of steel. Its product portfolio includes flat steel, long steel, galvanized steel and tinplate products, which serve customers in industries such as construction, automotive manufacturing, packaging and general manufacturing.

CSN also operates businesses that support its steel activities, including iron ore mining, cement production and logistics.