Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down – Time to Sell?

Companhia Siderúrgica Nacional (NYSE:SID) gapped down prior to trading on Friday . The stock had previously closed at $1.42, but opened at $1.38. Companhia Siderúrgica Nacional shares last traded at $1.37, with a volume of 284,802 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Companhia Siderúrgica Nacional Stock Down 2.1 %

The firm’s 50 day moving average price is $1.85 and its two-hundred day moving average price is $2.08. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $1.93 billion, a P/E ratio of -46.32 and a beta of 2.12.

Companhia Siderúrgica Nacional Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were paid a $0.0952 dividend. The ex-dividend date of this dividend was Friday, November 29th. Companhia Siderúrgica Nacional’s payout ratio is currently -146.67%.

Institutional Trading of Companhia Siderúrgica Nacional

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Companhia Siderúrgica Nacional during the third quarter worth $3,824,000. The Manufacturers Life Insurance Company bought a new stake in shares of Companhia Siderúrgica Nacional in the 3rd quarter valued at about $3,585,000. Renaissance Technologies LLC lifted its stake in Companhia Siderúrgica Nacional by 51.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock valued at $4,435,000 after purchasing an additional 656,983 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Companhia Siderúrgica Nacional by 48,194.9% during the third quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company’s stock worth $1,056,000 after purchasing an additional 440,983 shares during the period. Finally, Van ECK Associates Corp increased its position in Companhia Siderúrgica Nacional by 17.3% during the second quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock worth $4,236,000 after buying an additional 271,176 shares during the last quarter.

Companhia Siderúrgica Nacional 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.