National Steel (NYSE:SID) Shares Gap Down – Should You Sell?

National Steel Company (NYSE:SID)’s share price gapped down prior to trading 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 Ratings Changes

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

National Steel Price Performance

The company has a market capitalization of $2.41 billion, a P/E ratio of -10.68 and a beta of 1.67. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 2.49. The firm has a fifty day moving average of $1.64 and a 200 day moving average of $1.53.

National Steel (NYSE:SID) last released its quarterly 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 firm had revenue of $2.22 billion for 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%. On average, equities research analysts anticipate that National Steel Company will post -0.02 EPS for the current year.

Hedge Funds Weigh In On National Steel

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

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.