National Steel (NYSE:SID) Shares Gap Down – Here’s What Happened

Shares of National Steel Company (NYSE:SID) gapped down before the market opened on Thursday . The stock had previously closed at $1.38, but opened at $1.30. National Steel shares last traded at $1.2750, with a volume of 3,082,641 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group raised their price target on National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a report on Monday, December 15th. Zacks Research cut National Steel from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Finally, Weiss Ratings restated 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 data from MarketBeat, the stock currently has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Stock Performance

The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 2.49. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -6.56 and a beta of 1.67. The stock has a 50 day moving average price of $1.74 and a two-hundred day moving average price of $1.64.

Hedge Funds Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP raised its stake in shares of National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 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.