National Steel (NYSE:SID) Sets New 52-Week Low – Here’s Why

National Steel Company (NYSE:SID) reached a new 52-week low during trading on Friday . The company traded as low as $1.19 and last traded at $1.2050, with a volume of 15942941 shares changing hands. The stock had previously closed at $1.38.

Analysts Set New Price Targets

SID has been the topic of a number of recent analyst reports. UBS Group raised their target price on National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of National Steel in a report on Wednesday, January 21st. Finally, Zacks Research cut National Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Three equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Price Performance

The company’s fifty day moving average price is $1.74 and its two-hundred day moving average price is $1.64. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 2.49. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -6.56 and a beta of 1.67.

Hedge Funds Weigh In On National Steel

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