Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down - What's Next?

Shares of Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $1.56, but opened at $1.48. Companhia Siderúrgica Nacional shares last traded at $1.47, with a volume of 246,832 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Companhia Siderúrgica Nacional from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th.

Companhia Siderúrgica Nacional Stock Performance

The business's fifty day simple moving average is $1.52 and its 200-day simple moving average is $1.90. The firm has a market cap of $2.06 billion, a P/E ratio of -10.37 and a beta of 2.14. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77.

Companhia Siderúrgica Nacional Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were issued a $0.0952 dividend. The ex-dividend date of this dividend was Friday, November 29th. Companhia Siderúrgica Nacional's dividend payout ratio (DPR) is currently -146.66%.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several hedge funds have recently made changes to their positions in the business. PDS Planning Inc purchased a new position in Companhia Siderúrgica Nacional during the 3rd quarter valued at $32,000. SBI Securities Co. Ltd. purchased a new position in shares of Companhia Siderúrgica Nacional during the fourth quarter valued at about $35,000. Pinnacle Wealth Planning Services Inc. raised its stake in Companhia Siderúrgica Nacional by 41.3% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 31,855 shares of the basic materials company's stock worth $46,000 after buying an additional 9,314 shares in the last quarter. Savvy Advisors Inc. lifted its holdings in Companhia Siderúrgica Nacional by 56.1% in the fourth quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company's stock worth $52,000 after buying an additional 12,987 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Companhia Siderúrgica Nacional during the 4th quarter valued at approximately $55,000.

Companhia Siderúrgica Nacional Company Profile

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.