National Steel (NYSE:SID) Trading Down 3.7% – Should You Sell?

National Steel Company (NYSE:SID)’s share price dropped 3.7% during mid-day trading on Wednesday . The stock traded as low as $1.16 and last traded at $1.1650. Approximately 931,058 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,792,502 shares. The stock had previously closed at $1.21.

Wall Street Analyst Weigh In

Several research firms recently commented on SID. Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of National Steel in a report on Wednesday. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus price target of $1.40.

National Steel Price Performance

The firm has a market capitalization of $1.36 billion, a PE ratio of -4.27 and a beta of 1.54. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.11 and a quick ratio of 0.73. The firm has a 50-day simple moving average of $1.29 and a 200-day simple moving average of $1.51.

National Steel (NYSE:SID) last released its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.13). National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.08 billion. As a group, equities analysts forecast that National Steel Company will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP lifted its position in National Steel Company (NYSE:SID) by 175.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (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.