Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Up – What’s Next?

Companhia Siderúrgica Nacional (NYSE:SID) shares gapped up prior to trading on Tuesday . The stock had previously closed at $1.74, but opened at $1.78. Companhia Siderúrgica Nacional shares last traded at $1.79, with a volume of 184,971 shares.

Wall Street Analyst Weigh In

SID has been the subject of a number of analyst reports. UBS Group began coverage on shares of Companhia Siderúrgica Nacional in a research note on Wednesday, March 12th. They set a “sell” rating and a $1.30 price objective for the company. StockNews.com cut shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Stock Up 2.6 %

The firm has a market capitalization of $2.37 billion, a PE ratio of -11.90 and a beta of 2.16. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77. The business’s 50-day moving average price is $1.54 and its 200-day moving average price is $1.80.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its quarterly earnings results on Wednesday, March 12th. The basic materials company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $11.85 billion. Companhia Siderúrgica Nacional had a negative return on equity of 5.79% and a negative net margin of 2.37%. As a group, equities research analysts predict that Companhia Siderúrgica Nacional will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SID. Pinnacle Wealth Planning Services Inc. raised its holdings in Companhia Siderúrgica Nacional by 41.3% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 31,855 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 9,314 shares in the last quarter. Savvy Advisors Inc. raised its stake in shares of Companhia Siderúrgica Nacional by 56.1% in the 4th quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company’s stock valued at $52,000 after buying an additional 12,987 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Companhia Siderúrgica Nacional by 23.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 85,026 shares of the basic materials company’s stock worth $122,000 after buying an additional 16,414 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Companhia Siderúrgica Nacional in the 3rd quarter valued at $57,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Companhia Siderúrgica Nacional during the 4th quarter worth about $35,000.

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.