Companhia Siderurgica Nacional (NYSE:SID)’s share price shot up 2.3% during trading on Wednesday . The stock traded as high as $3.57 and last traded at $3.49, with a volume of 1,594,378 shares traded. The stock had previously closed at $3.41.

Separately, Zacks Investment Research raised shares of Companhia Siderurgica Nacional from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th.

The firm has a market capitalization of $4.74 billion and a P/E ratio of 498.57. The stock has a 50 day moving average of $2.58 and a 200-day moving average of $2.13.

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.