Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down – Time to Sell?

Companhia Siderúrgica Nacional (NYSE:SID)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $1.67, but opened at $1.60. Companhia Siderúrgica Nacional shares last traded at $1.60, with a volume of 351,622 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on SID shares. StockNews.com raised Companhia Siderúrgica Nacional from a “hold” rating to a “buy” rating in a report on Friday. UBS Group started coverage on Companhia Siderúrgica Nacional in a report on Wednesday, March 12th. They set a “sell” rating and a $1.30 target price for the company.

Companhia Siderúrgica Nacional Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77. The company has a 50-day moving average price of $1.62 and a 200-day moving average price of $1.64. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -10.83 and a beta of 1.83.

Companhia Siderúrgica Nacional (NYSE:SID) last issued its quarterly earnings data on Wednesday, March 12th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $11.85 billion. Companhia Siderúrgica Nacional had a negative return on equity of 5.79% and a negative net margin of 2.37%. As a group, equities research analysts forecast that Companhia Siderúrgica Nacional will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several hedge funds and other institutional investors have recently made changes to their positions in SID. Northern Trust Corp boosted its position in shares of Companhia Siderúrgica Nacional by 2,160.7% during the fourth quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company’s stock worth $2,282,000 after buying an additional 1,514,727 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Companhia Siderúrgica Nacional by 48,194.9% during the third quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company’s stock worth $1,056,000 after buying an additional 440,983 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Companhia Siderúrgica Nacional by 70.7% during the fourth quarter. BNP Paribas Financial Markets now owns 1,053,204 shares of the basic materials company’s stock worth $1,517,000 after buying an additional 436,157 shares during the period. XTX Topco Ltd lifted its position in Companhia Siderúrgica Nacional by 1,323.3% in the first quarter. XTX Topco Ltd now owns 299,898 shares of the basic materials company’s stock worth $501,000 after purchasing an additional 278,828 shares during the period. Finally, American Century Companies Inc. lifted its position in Companhia Siderúrgica Nacional by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,173,564 shares of the basic materials company’s stock worth $3,130,000 after purchasing an additional 87,403 shares during the period.

Companhia Siderúrgica Nacional 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.