National Steel (NYSE:SID) Shares Gap Up – Here’s What Happened

National Steel Company (NYSE:SID)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $1.22, but opened at $1.28. National Steel shares last traded at $1.2550, with a volume of 1,157,473 shares.

Analysts Set New Price Targets

SID has been the topic of a number of research reports. Wall Street Zen downgraded shares of National Steel from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Zacks Research lowered shares of National Steel from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. Three research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of $1.40.

National Steel Trading Up 2.9%

The company has a fifty day moving average price of $1.00 and a 200-day moving average price of $1.20. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -3.66 and a beta of 1.61. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 2.96.

National Steel (NYSE:SID) last announced its quarterly earnings results on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. On average, equities research analysts predict that National Steel Company will post 0.11 EPS for the current year.

Hedge Funds Weigh In On National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP lifted its stake in National Steel Company (NYSE:SID) by 175.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 564,262 shares of the basic materials company’s stock after acquiring an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent reporting 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.