National Steel (NYSE:SID) Shares Gap Up – Time to Buy?

National Steel Company (NYSE:SID)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $1.14, but opened at $1.21. National Steel shares last traded at $1.2450, with a volume of 881,206 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research lowered shares of National Steel from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Weiss Ratings restated a “sell (d)” rating on shares of National Steel in a research note on Wednesday, January 21st. Finally, UBS Group lifted their price target 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. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average target price of $1.40.

National Steel Price Performance

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 firm has a market cap of $1.65 billion, a PE ratio of -5.19 and a beta of 1.67. The stock has a 50 day moving average price of $1.65 and a two-hundred day moving average price of $1.63.

Institutional Trading of National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP raised its stake in shares of National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.