National Steel Company (NYSE:SID) shares gapped up before the market opened on Tuesday . The stock had previously closed at $3.46, but opened at $3.36. National Steel shares last traded at $3.46, with a volume of 1,480,817 shares.

SID has been the subject of several recent analyst reports. BidaskClub raised shares of National Steel from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Credit Suisse Group raised shares of National Steel from an “underperform” rating to a “neutral” rating in a report on Thursday, September 7th.

The company has a market capitalization of $4.44 billion, a P/E ratio of 10.51 and a beta of 2.28. The firm has a 50-day moving average of $2.67 and a 200 day moving average of $2.56.

Several institutional investors have recently modified their holdings of SID. Acrospire Investment Management LLC lifted its stake 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 worth $101,000 after buying an additional 23,500 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of National Steel in the first quarter worth $174,000. Comerica Bank lifted its stake 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 worth $190,000 after buying an additional 1,034 shares during the last quarter. KCG Holdings Inc. lifted its stake 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 worth $233,000 after buying an additional 29,502 shares during the last quarter. Finally, World Asset Management Inc lifted its stake 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 worth $251,000 after buying an additional 451 shares during the last quarter. Institutional investors and hedge funds own 3.23% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/09/14/national-steel-company-sid-shares-gap-up-to-3-36.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.

Receive News & Ratings for National Steel Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Steel Company and related companies with MarketBeat.com's FREE daily email newsletter.