National Steel Company (NYSE:SID) Stock Short Interest Drops 53.6%

National Steel Company (NYSE:SID) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 4,164,960 shares, a decrease of 53.6% from the August 31st total of 8,982,742 shares. Based on an average trading volume of 9,525,120 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SID shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National Steel in a research note on Monday, September 14th. Zacks Research cut shares of National Steel from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of National Steel from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Three analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Strong Sell” and an average price target of $1.40.

National Steel Stock Up 5.4%

SID stock traded up $0.06 during trading on Wednesday, hitting $1.07. 4,416,385 shares of the stock traded hands, compared to its average volume of 5,019,219. National Steel has a 1 year low of $0.84 and a 1 year high of $2.20. The firm’s 50 day moving average is $1.07 and its two-hundred day moving average is $1.15. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -3.16 and a beta of 1.61. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.15 and a quick ratio of 0.79.

National Steel (NYSE:SID) last released its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%.The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.13 billion. On average, sell-side analysts anticipate that National Steel will post -0.02 EPS for the current year.

National Steel Company Profile

Companhia Siderúrgica Nacional (CSN), historically associated with the “National Steel” name and traded in the United States under the symbol SID, is a Brazilian industrial company headquartered in São Paulo. Founded in 1941, CSN operates one of Brazil’s major integrated steelmaking complexes in Volta Redonda, in the state of Rio de Janeiro.

The company produces flat steel products, including galvanized, tinplate and other coated steels, as well as hot- and cold-rolled steel. Its products serve industries such as automotive manufacturing, construction, packaging, appliances and general industrial production.