Companhia Siderurgica Nacional (NYSE:SID) shares fell 6.2% during mid-day trading on Thursday . The stock traded as low as $2.57 and last traded at $2.57, with a volume of 1,250,047 shares changing hands. The stock had previously closed at $2.74.

Separately, Zacks Investment Research cut Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th.

The firm has a market cap of $3.47 billion and a price-to-earnings ratio of 365.71. The firm has a 50-day moving average of $2.16 and a 200-day moving average of $1.93.

An institutional investor recently raised its position in Companhia Siderurgica Nacional stock. Morgan Stanley raised its position in shares of Companhia Siderurgica Nacional (NYSE:SID) by 162.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,618,907 shares of the company’s stock after buying an additional 2,238,768 shares during the period. Morgan Stanley owned approximately 0.27% of Companhia Siderurgica Nacional worth $3,531,000 as of its most recent filing with the SEC.

Companhia Siderurgica Nacional (CSN) is a Brazil-based company primarily engaged in the steel industry. The Company divides its business into five segments: Steel sector, which is involved in the production, distribution and marketing of flat steel, galvanized steel and metal packaging; Mining sector, which is active in the production of iron ore; Cement sector, which is involved in the manufacture of cement, as well as in the exploration of limestone and dolomite; Logistics sector, which consists of around two railway companies and a hub port, and Energy sector, which includes investments in energy generation projects to guarantee the Company’s self-sufficiency.