National Steel (NYSE:SID) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

National Steel Company (NYSE:SID) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.61 and traded as high as $1.70. National Steel shares last traded at $1.6950, with a volume of 6,813,955 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on SID shares. UBS Group raised their target price on shares of National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a report on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of National Steel in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Sell” and an average price target of $1.40.

National Steel Stock Performance

The firm’s 50 day simple moving average is $1.79 and its 200-day simple moving average is $1.61. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -9.97 and a beta of 1.66. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32.

National Steel (NYSE:SID) last issued its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.08 billion. National Steel had a negative net margin of 2.88% and a negative return on equity of 7.77%. Analysts expect that National Steel Company will post -0.02 EPS for the current year.

Institutional Trading of National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP boosted its stake in shares of National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 564,262 shares of the basic materials company’s stock after purchasing an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent reporting period.

National Steel 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.