Companhia Siderurgica Nacional (SID) Shares Gap Up to $4.10

Companhia Siderurgica Nacional (NYSE:SID) gapped up prior to trading on Monday . The stock had previously closed at $3.91, but opened at $4.10. Companhia Siderurgica Nacional shares last traded at $4.13, with a volume of 4742231 shares trading hands.

SID has been the subject of a number of research reports. Zacks Investment Research cut shares of Companhia Siderurgica Nacional from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. BTIG Research raised shares of Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a research report on Wednesday, January 23rd. Itau BBA Securities raised shares of Companhia Siderurgica Nacional from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 21st. HSBC raised shares of Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. Finally, Morgan Stanley raised shares of Companhia Siderurgica Nacional from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $4.75.

The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 2.31.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dorsey Wright & Associates acquired a new position in Companhia Siderurgica Nacional in the first quarter valued at $4,405,000. Deutsche Bank AG increased its stake in Companhia Siderurgica Nacional by 215.7% in the fourth quarter. Deutsche Bank AG now owns 392,589 shares of the basic materials company’s stock valued at $859,000 after purchasing an additional 268,228 shares during the period. OLD Mission Capital LLC acquired a new position in Companhia Siderurgica Nacional in the fourth quarter valued at $43,000. D. E. Shaw & Co. Inc. increased its stake in Companhia Siderurgica Nacional by 161.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 46,840 shares of the basic materials company’s stock valued at $103,000 after purchasing an additional 28,901 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in Companhia Siderurgica Nacional in the fourth quarter valued at $127,000. 2.43% of the stock is owned by hedge funds and other institutional investors.

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About Companhia Siderurgica Nacional (NYSE:SID)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil. It operates through five segments: Steel, Mining, Logistics, Cement, and Energy. It produces a line of steel products, including slabs, hot and cold-rolled, galvanized, and tin mill products for the distribution, packaging, automotive, home appliance, and construction industries.

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