Short Interest in Companhia Siderúrgica Nacional (NYSE:SID) Expands By 54.8%

Companhia Siderúrgica Nacional (NYSE:SID) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 9,010,000 shares, an increase of 54.8% from the October 31st total of 5,820,000 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,150,000 shares, the short-interest ratio is currently 4.2 days.

Companhia Siderúrgica Nacional Trading Down 1.6 %

Shares of SID traded down $0.03 on Friday, reaching $1.87. The stock had a trading volume of 1,674,761 shares, compared to its average volume of 2,224,528. The firm has a 50-day moving average of $2.11 and a 200 day moving average of $2.23. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.89 and a current ratio of 1.29. Companhia Siderúrgica Nacional has a twelve month low of $1.82 and a twelve month high of $4.03.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 10th.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in shares of Companhia Siderúrgica Nacional in the 3rd quarter worth $299,000. Point72 Asset Management L.P. raised its position in shares of Companhia Siderúrgica Nacional by 352.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 300,998 shares of the basic materials company’s stock worth $719,000 after buying an additional 234,498 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Companhia Siderúrgica Nacional in the 3rd quarter worth $3,824,000. BNP Paribas Financial Markets raised its position in shares of Companhia Siderúrgica Nacional by 11.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 617,047 shares of the basic materials company’s stock worth $1,475,000 after buying an additional 65,219 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in Companhia Siderúrgica Nacional in the third quarter valued at about $3,585,000.

About Companhia Siderúrgica Nacional

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.