Short Interest in National Steel Company (NYSE:SID) Expands By 29.9%

National Steel Company (NYSE:SID) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 10,720,000 shares, an increase of 29.9% from the July 31st total of 8,250,000 shares. Based on an average daily volume of 3,320,000 shares, the short-interest ratio is currently 3.2 days. Currently, 0.8% of the shares of the stock are sold short. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 3,320,000 shares, the short-interest ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of National Steel from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $1.30.

National Steel Stock Down 0.3%

Shares of NYSE SID opened at $1.46 on Thursday. National Steel has a 12-month low of $1.24 and a 12-month high of $2.50. The stock has a market cap of $1.93 billion, a PE ratio of -5.02, a P/E/G ratio of 0.41 and a beta of 1.60. The company has a current ratio of 1.35, a quick ratio of 0.95 and a debt-to-equity ratio of 2.60. The company has a 50-day moving average of $1.43 and a 200 day moving average of $1.51.

National Steel (NYSE:SID) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.09). National Steel had a negative net margin of 5.06% and a negative return on equity of 13.90%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $10.98 billion. As a group, sell-side analysts predict that National Steel will post -0.02 EPS for the current fiscal year.

Institutional Trading of National Steel

Several large investors have recently bought and sold shares of the business. Savvy Advisors Inc. grew its stake in shares of National Steel by 18.7% in the 1st quarter. Savvy Advisors Inc. now owns 42,872 shares of the basic materials company’s stock valued at $72,000 after buying an additional 6,739 shares during the period. EntryPoint Capital LLC grew its stake in shares of National Steel by 23.0% in the 1st quarter. EntryPoint Capital LLC now owns 46,975 shares of the basic materials company’s stock valued at $78,000 after buying an additional 8,798 shares during the period. Pinnacle Wealth Planning Services Inc. grew its stake in shares of National Steel by 41.3% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 31,855 shares of the basic materials company’s stock valued at $46,000 after buying an additional 9,314 shares during the period. First Affirmative Financial Network grew its stake in shares of National Steel by 56.7% in the 1st quarter. First Affirmative Financial Network now owns 30,672 shares of the basic materials company’s stock valued at $51,000 after buying an additional 11,098 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of National Steel by 0.6% in the 1st quarter. American Century Companies Inc. now owns 2,187,196 shares of the basic materials company’s stock valued at $3,653,000 after buying an additional 13,632 shares during the 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.