National Steel (NYSE:SID) Stock Price Down 4.2% – Time to Sell?

National Steel Company (NYSE:SID)’s stock price dropped 4.2% during trading on Friday . The stock traded as low as $1.70 and last traded at $1.6950. Approximately 1,377,654 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 2,697,779 shares. The stock had previously closed at $1.77.

Analyst Ratings Changes

SID has been the topic of a number of recent analyst reports. UBS Group lifted 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. Zacks Research raised National Steel from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of National Steel in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Sell” and an average target price of $1.40.

National Steel Trading Down 5.9%

The business’s fifty day moving average is $1.63 and its 200-day moving average is $1.52. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.91 and a current ratio of 1.32. The firm has a market cap of $2.21 billion, a P/E ratio of -9.79 and a beta of 1.74.

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

Institutional Investors Weigh In On National Steel

Institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC boosted its holdings in National Steel by 155.7% in the first quarter. Inspire Investing LLC now owns 31,681 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 19,289 shares during the last quarter. EntryPoint Capital LLC lifted its position in shares of National Steel by 23.0% in the 1st quarter. EntryPoint Capital LLC now owns 46,975 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 8,798 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of National Steel by 0.6% in the 1st quarter. American Century Companies Inc. now owns 2,187,196 shares of the basic materials company’s stock worth $3,653,000 after purchasing an additional 13,632 shares during the 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.