National Steel (NYSE:SID) Shares Gap Down – What’s Next?

National Steel Company (NYSE:SID) shares gapped down before the market opened on Thursday . The stock had previously closed at $1.88, but opened at $1.79. National Steel shares last traded at $1.7950, with a volume of 605,646 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of National Steel in a research note on Wednesday, October 8th. Zacks Research upgraded shares of National Steel from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. Finally, UBS Group raised their target price on shares of National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average price target of $1.40.

National Steel Price Performance

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 company has a market cap of $2.47 billion, a price-to-earnings ratio of -10.97 and a beta of 1.67. The business has a fifty day moving average price of $1.65 and a 200 day moving average price of $1.54.

National Steel (NYSE:SID) last released its earnings results on Monday, November 10th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.08 billion. National Steel had a negative net margin of 2.88% and a negative return on equity of 7.77%. As a group, research analysts anticipate that National Steel Company will post -0.02 earnings per share for the current year.

Institutional Trading of National Steel

An institutional investor recently raised its position in National Steel stock. Inspire Investing LLC grew its position in National Steel Company (NYSE:SID) by 155.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,681 shares of the basic materials company’s stock after purchasing an additional 19,289 shares during the period. Inspire Investing LLC’s holdings in National Steel were worth $53,000 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.