National Steel (NYSE:SID) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of National Steel Company (NYSE:SID) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.60 and traded as high as $1.95. National Steel shares last traded at $1.8850, with a volume of 6,900,859 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of National Steel from $1.30 to $1.40 and gave the company a “sell” rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of National Steel in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $1.40.

National Steel Price Performance

The business’s 50-day moving average price is $1.77 and its 200 day moving average price is $1.60. The company has a market capitalization of $2.50 billion, a P/E ratio of -11.09 and a beta of 1.66. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 2.49.

National Steel (NYSE:SID) last posted its earnings results 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). National Steel had a negative return on equity of 7.77% and a negative net margin of 2.88%.The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Analysts anticipate that National Steel Company will post -0.02 EPS for the current fiscal year.

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.