National Steel (NYSE:SID) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

National Steel Company (NYSE:SID)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.52 and traded as high as $1.66. National Steel shares last traded at $1.6550, with a volume of 3,819,214 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented 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 reiterated a “sell (d)” rating on shares of National Steel in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Sell” and a consensus target price of $1.30.

National Steel Stock Performance

The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -5.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.77. The firm has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.52. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.35 and a quick ratio of 0.95.

Hedge Funds Weigh In On National Steel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda grew its position in shares of National Steel by 1,530.8% in the first quarter. Kapitalo Investimentos Ltda now owns 25,979 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 24,386 shares during the period. Inspire Advisors LLC lifted its stake in National Steel by 36.8% in the 1st quarter. Inspire Advisors LLC now owns 91,555 shares of the basic materials company’s stock valued at $153,000 after buying an additional 24,642 shares in the last quarter. XTX Topco Ltd boosted its holdings in National Steel by 1,323.3% in the 1st quarter. XTX Topco Ltd now owns 299,898 shares of the basic materials company’s stock worth $501,000 after buying an additional 278,828 shares during the last quarter. Headlands Technologies LLC increased its stake in National Steel by 41.4% during the 1st quarter. Headlands Technologies LLC now owns 62,710 shares of the basic materials company’s stock worth $105,000 after buying an additional 18,359 shares in the last quarter. Finally, Savvy Advisors Inc. increased its stake in National Steel by 18.7% during the 1st quarter. Savvy Advisors Inc. now owns 42,872 shares of the basic materials company’s stock worth $72,000 after buying an additional 6,739 shares in the last quarter.

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.