Investors Purchase Large Volume of Call Options on Companhia Siderúrgica Nacional (NYSE:SID)

Companhia Siderúrgica Nacional (NYSE:SID) was the target of some unusual options trading on Friday. Investors purchased 3,883 call options on the company. This represents an increase of 1,933% compared to the average volume of 191 call options.

Analyst Upgrades and Downgrades

SID has been the topic of a number of research reports. Bank of America cut Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $3.90 to $2.90 in a research note on Tuesday, April 9th. StockNews.com cut shares of Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Itau BBA Securities reiterated an “underperform” rating and set a $3.00 price target on shares of Companhia Siderúrgica Nacional in a research report on Thursday, April 4th.

Institutional Trading of Companhia Siderúrgica Nacional

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Companhia Siderúrgica Nacional by 2.4% during the third quarter. Vanguard Group Inc. now owns 5,314,589 shares of the basic materials company’s stock valued at $12,702,000 after buying an additional 126,736 shares during the period. BlackRock Inc. increased its holdings in shares of Companhia Siderúrgica Nacional by 34.4% during the second quarter. BlackRock Inc. now owns 3,468,677 shares of the basic materials company’s stock valued at $8,984,000 after acquiring an additional 887,993 shares in the last quarter. Van ECK Associates Corp increased its holdings in Companhia Siderúrgica Nacional by 41.9% in the 4th quarter. Van ECK Associates Corp now owns 1,703,380 shares of the basic materials company’s stock worth $6,694,000 after buying an additional 502,993 shares in the last quarter. State Street Corp increased its holdings in Companhia Siderúrgica Nacional by 2.5% in the 2nd quarter. State Street Corp now owns 1,529,158 shares of the basic materials company’s stock worth $4,149,000 after buying an additional 37,248 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Companhia Siderúrgica Nacional by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 1,374,594 shares of the basic materials company’s stock worth $3,285,000 after buying an additional 117,194 shares in the last quarter.

Companhia Siderúrgica Nacional Stock Performance

NYSE:SID opened at $2.82 on Friday. Companhia Siderúrgica Nacional has a fifty-two week low of $2.11 and a fifty-two week high of $4.03. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.32 and a quick ratio of 0.94. The business has a 50 day moving average price of $3.20 and a 200-day moving average price of $3.16.

Companhia Siderúrgica Nacional (NYSE:SID) last released its quarterly earnings data on Thursday, March 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Companhia Siderúrgica Nacional had a net margin of 0.76% and a return on equity of 1.69%. The company had revenue of $2.42 billion for the quarter. Equities analysts forecast that Companhia Siderúrgica Nacional will post 0.16 earnings per share for the current year.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, 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 consisting 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.