Companhia Siderúrgica Nacional (NYSE:SID) Short Interest Up 46.4% in March

Companhia Siderúrgica Nacional (NYSE:SID – Get Rating) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 7,630,000 shares, a growth of 46.4% from the March 15th total of 5,210,000 shares. Based on an average trading volume of 5,280,000 shares, the short-interest ratio is currently 1.4 days. Currently, 0.6% of the shares of the stock are short sold.

SID stock traded down $0.27 during mid-day trading on Friday, reaching $5.34. 4,710,092 shares of the company’s stock were exchanged, compared to its average volume of 6,012,513. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.42 and a quick ratio of 0.98. Companhia Siderúrgica Nacional has a 12-month low of $3.56 and a 12-month high of $10.33. The stock’s 50 day moving average is $5.22 and its 200 day moving average is $4.75. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 3.05, a price-to-earnings-growth ratio of 0.25 and a beta of 1.70.

Companhia Siderúrgica Nacional (NYSE:SID – Get Rating) last released its quarterly earnings results on Wednesday, March 9th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Companhia Siderúrgica Nacional had a net margin of 27.07% and a return on equity of 57.84%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the business posted $0.52 EPS. On average, research analysts forecast that Companhia Siderúrgica Nacional will post 1.97 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of SID. Morgan Stanley boosted its stake in Companhia Siderúrgica Nacional by 508.5% during the 2nd quarter. Morgan Stanley now owns 1,446,500 shares of the basic materials company’s stock worth $12,700,000 after purchasing an additional 1,208,780 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Companhia Siderúrgica Nacional by 32.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,778,338 shares of the basic materials company’s stock worth $25,134,000 after buying an additional 1,181,905 shares in the last quarter. Bank of America Corp DE grew its stake in Companhia Siderúrgica Nacional by 357.3% during the 4th quarter. Bank of America Corp DE now owns 1,446,582 shares of the basic materials company’s stock valued at $6,422,000 after acquiring an additional 1,130,260 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Companhia Siderúrgica Nacional by 39.4% in the 4th quarter. Renaissance Technologies LLC now owns 3,108,800 shares of the basic materials company’s stock valued at $13,803,000 after acquiring an additional 877,887 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Companhia Siderúrgica Nacional by 59.6% in the 3rd quarter. Two Sigma Investments LP now owns 1,966,625 shares of the basic materials company’s stock worth $10,344,000 after purchasing an additional 734,525 shares in the last quarter. Institutional investors own 2.84% of the company’s stock.

A number of research analysts recently commented on SID shares. Zacks Investment Research raised shares of Companhia Siderúrgica Nacional from a “hold” rating to a “strong-buy” rating and set a $6.00 price target for the company in a report on Friday, April 8th. Morgan Stanley downgraded Companhia Siderúrgica Nacional from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 23rd. Finally, StockNews.com initiated coverage on shares of Companhia Siderúrgica Nacional in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Companhia Siderúrgica Nacional has a consensus rating of “Buy” and an average price target of $6.00.

Companhia Siderúrgica Nacional Company Profile (Get Rating)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. The company operates in five segments: Steel, Mining, Logistics, Energy, and Cement. It offers flat steel products, such as high, medium, low carbon, micro-alloyed, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products that consist of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.

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