National Steel Company (NYSE:SID) shares rose 6.6% during trading on Friday . The company traded as high as $2.96 and last traded at $2.89, with a volume of 5,029,371 shares trading hands. The stock had previously closed at $2.71.

Separately, BidaskClub raised National Steel from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th.

The company’s 50-day moving average price is $2.53 and its 200-day moving average price is $2.62. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 9.29 and a beta of 2.27.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position in shares of National Steel by 343.8% in the first quarter. Morgan Stanley now owns 3,237,262 shares of the basic materials company’s stock valued at $9,453,000 after buying an additional 2,507,863 shares in the last quarter. Arlington Capital Management Inc. increased its position in shares of National Steel by 4.5% in the first quarter. Arlington Capital Management Inc. now owns 5,047,968 shares of the basic materials company’s stock valued at $14,740,000 after buying an additional 217,061 shares in the last quarter. ING Groep NV bought a new position in shares of National Steel during the first quarter valued at approximately $433,000. Credit Suisse AG increased its position in shares of National Steel by 11.2% in the first quarter. Credit Suisse AG now owns 735,909 shares of the basic materials company’s stock valued at $2,150,000 after buying an additional 74,312 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of National Steel during the first quarter valued at approximately $174,000. Institutional investors and hedge funds own 3.23% of the company’s stock.

WARNING: This report was published by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.dailypolitical.com/2017/09/03/national-steel-company-sid-stock-price-up-6-6.html.

About National Steel

Companhia Siderurgica Nacional is a Brazil-based company engaged in the steel industry. The Company operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Company operates in five segments: Steel, Mining, Cement, Logistics and Energy.