National Steel (NYSE:SID) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of National Steel (NYSE:SID) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

SID has been the topic of a number of other reports. UBS Group increased their price objective on shares of National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of National Steel in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average target price of $1.40.

National Steel Stock Down 1.1%

SID stock opened at $1.40 on Monday. National Steel has a twelve month low of $1.24 and a twelve month high of $2.20. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 2.49. The company has a market capitalization of $1.85 billion, a P/E ratio of -8.21 and a beta of 1.67. The firm has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $1.64.

Institutional Trading of National Steel

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

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.