National Steel (NYSE:SID) Stock Price Down 7% – Time to Sell?

National Steel Company (NYSE:SID)’s share price fell 7% on Friday . The company traded as low as $1.6345 and last traded at $1.6550. 4,241,923 shares changed hands during mid-day trading, an increase of 57% from the average session volume of 2,698,252 shares. The stock had previously closed at $1.78.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of National Steel in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Sell” and an average price target of $1.30.

National Steel Stock Down 8.1%

The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -9.68 and a beta of 1.74. The business has a fifty day simple moving average of $1.60 and a 200 day simple moving average of $1.51. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.32 and a quick ratio of 0.91.

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

Institutional Investors Weigh In On National Steel

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC boosted its stake in National Steel by 155.7% during the first quarter. Inspire Investing LLC now owns 31,681 shares of the basic materials company’s stock worth $53,000 after buying an additional 19,289 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of National Steel by 23.0% during the 1st quarter. EntryPoint Capital LLC now owns 46,975 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 8,798 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of National Steel by 0.6% in the first quarter. American Century Companies Inc. now owns 2,187,196 shares of the basic materials company’s stock valued at $3,653,000 after purchasing an additional 13,632 shares during the period. Savvy Advisors Inc. increased its position in National Steel by 18.7% during the first quarter. Savvy Advisors Inc. now owns 42,872 shares of the basic materials company’s stock worth $72,000 after purchasing an additional 6,739 shares during the last quarter. Finally, Headlands Technologies LLC raised its stake in National Steel by 41.4% during the first quarter. Headlands Technologies LLC now owns 62,710 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 18,359 shares during the 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.