National Steel (NYSE:SID) Hits New 52-Week High – Here’s What Happened

Shares of National Steel Company (NYSE:SID) reached a new 52-week high during trading on Wednesday . The company traded as high as $1.84 and last traded at $1.8250, with a volume of 2687587 shares. The stock had previously closed at $1.75.

Analyst Upgrades and Downgrades

SID has been the subject of several research reports. UBS Group upped their target price on National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a report on Monday, December 15th. Zacks Research raised shares of National Steel from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of National Steel in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, National Steel currently has a consensus rating of “Sell” and a consensus price target of $1.40.

National Steel Trading Down 0.3%

The company’s 50 day simple moving average is $1.65 and its two-hundred day simple moving average is $1.54. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 2.49. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -10.97 and a beta of 1.67.

National Steel (NYSE:SID) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.08 billion. National Steel had a negative net margin of 2.88% and a negative return on equity of 7.77%. As a group, research analysts anticipate that National Steel Company will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Steel

An institutional investor recently raised its position in National Steel stock. Inspire Investing LLC grew its holdings in National Steel Company (NYSE:SID) by 155.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 31,681 shares of the basic materials company’s stock after buying an additional 19,289 shares during the period. Inspire Investing LLC’s holdings in National Steel were worth $53,000 at the end of the most recent reporting period.

About National Steel

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.