National Steel Company (NYSE:SID) gapped up prior to trading on Monday . The stock had previously closed at $2.61, but opened at $2.71. National Steel shares last traded at $2.89, with a volume of 5,029,371 shares traded.

Separately, BidaskClub upgraded National Steel from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th.

The stock’s 50 day moving average price is $2.53 and its 200-day moving average price is $2.62. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 9.29 and a beta of 2.28.

Hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC increased its holdings in shares of National Steel by 213.3% in the first quarter. Acrospire Investment Management LLC now owns 34,518 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 23,500 shares during the period. Karp Capital Management Corp acquired a new position in shares of National Steel in the first quarter valued at about $174,000. Comerica Bank increased its holdings in shares of National Steel by 1.3% in the first quarter. Comerica Bank now owns 79,557 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 1,034 shares during the period. KCG Holdings Inc. increased its holdings in shares of National Steel by 58.7% in the first quarter. KCG Holdings Inc. now owns 79,803 shares of the basic materials company’s stock valued at $233,000 after purchasing an additional 29,502 shares during the period. Finally, World Asset Management Inc increased its holdings in shares of National Steel by 0.5% in the first quarter. World Asset Management Inc now owns 86,108 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 451 shares during the period. 3.23% of the stock is currently owned by institutional investors and hedge funds.

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National Steel Company Profile

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.