National Steel (NYSE:SID) Stock Price Up 5.3% – Still a Buy?

National Steel Company (NYSE:SID) shares were up 5.3% during mid-day trading on Friday . The stock traded as high as $1.0099 and last traded at $1.0050. Approximately 689,460 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,797,098 shares. The stock had previously closed at $0.9547.

Analysts Set New Price Targets

Several research firms have commented on SID. Zacks Research upgraded National Steel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $1.40.

National Steel Price Performance

The company has a market cap of $1.36 billion, a P/E ratio of -4.27 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60. The business’s fifty day moving average is $1.18 and its 200 day moving average is $1.43.

National Steel (NYSE:SID) last announced its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.08 billion. National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. As a group, sell-side analysts anticipate that National Steel Company will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in National Steel stock. HRT Financial LP raised its holdings in shares of National Steel Company (NYSE:SID) by 175.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 564,262 shares of the basic materials company’s stock after acquiring an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 at the end of the most recent reporting period.

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.