National Steel (NYSE:SID) Shares Gap Up – Time to Buy?

National Steel Company (NYSE:SID)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $1.22, but opened at $1.28. National Steel shares last traded at $1.2550, with a volume of 1,157,473 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on SID shares. Weiss Ratings reissued a “sell (d-)” rating on shares of National Steel in a report on Wednesday, June 17th. Wall Street Zen cut National Steel from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Zacks Research downgraded National Steel from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of $1.40.

National Steel Trading Up 6.9%

The company has a quick ratio of 0.79, a current ratio of 1.15 and a debt-to-equity ratio of 2.96. The company has a market capitalization of $1.76 billion, a P/E ratio of -3.90 and a beta of 1.61. The business has a fifty day moving average price of $1.01 and a 200 day moving average price of $1.19.

National Steel (NYSE:SID) last announced its quarterly earnings data on Thursday, August 13th. The basic materials company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). National Steel had a negative net margin of 5.26% and a negative return on equity of 14.90%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. On average, analysts expect that National Steel Company will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Steel

A hedge fund recently raised its position in National Steel stock. HRT Financial LP lifted its holdings in National Steel Company (NYSE:SID) by 175.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 564,262 shares of the basic materials company’s stock after acquiring an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent filing with the SEC.

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.