National Steel (NYSE:SID) Shares Gap Down – What’s Next?

National Steel Company (NYSE:SID) gapped down before the market opened on Thursday . The stock had previously closed at $1.88, but opened at $1.79. National Steel shares last traded at $1.7950, with a volume of 605,646 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. UBS Group upped 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of National Steel in a research report on Wednesday, October 8th. 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 a consensus price target of $1.40.

National Steel Trading Down 3.5%

The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -10.68 and a beta of 1.67. The firm’s 50-day moving average is $1.64 and its 200-day moving average is $1.53. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 2.49.

National Steel (NYSE:SID) last issued its quarterly earnings data 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 return on equity of 7.77% and a negative net margin of 2.88%. As a group, sell-side analysts anticipate that National Steel Company will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in National Steel stock. Inspire Investing LLC lifted its stake in shares of National Steel Company (NYSE:SID) by 155.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 31,681 shares of the basic materials company’s stock after acquiring an additional 19,289 shares during the period. Inspire Investing LLC’s holdings in National Steel were worth $53,000 as of its most recent SEC filing.

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.