National Steel (NYSE:SID) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

National Steel Company (NYSE:SID) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.53 and traded as high as $1.77. National Steel shares last traded at $1.7550, with a volume of 3,360,558 shares traded.

Wall Street Analyst Weigh In

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

National Steel Price Performance

The stock has a market capitalization of $2.33 billion, a P/E ratio of -10.32 and a beta of 1.67. The company’s 50 day simple moving average is $1.64 and its two-hundred day simple moving average is $1.53. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.32 and a quick ratio of 0.91.

National Steel (NYSE:SID) last posted its 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 during 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%. As a group, equities analysts expect that National Steel Company will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On National Steel

An institutional investor recently raised its position in National Steel stock. Inspire Investing LLC grew its holdings in National Steel Company (NYSE:SID) by 155.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,681 shares of the basic materials company’s stock after buying an additional 19,289 shares during the quarter. Inspire Investing LLC’s holdings in National Steel were worth $53,000 at the end of the most recent reporting period.

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.