National Steel (NYSE:SID) Rating Lowered to Strong Sell at Zacks Research

National Steel (NYSE:SID) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

SID has been the topic of several other research reports. UBS Group upped their price target on National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a research note on Monday, December 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of National Steel in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $1.40.

National Steel Stock Down 0.3%

NYSE:SID opened at $1.42 on Monday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -8.33 and a beta of 1.67. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32. The stock’s fifty day moving average price is $1.76 and its two-hundred day moving average price is $1.64. National Steel has a 52-week low of $1.24 and a 52-week high of $2.20.

Institutional Trading of National Steel

A hedge fund recently raised its stake 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.

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.