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

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $1.46, but opened at $1.57. Companhia Siderúrgica Nacional shares last traded at $1.59, with a volume of 273,422 shares traded.

Wall Street Analyst Weigh In

SID has been the topic of several research analyst reports. StockNews.com cut shares of Companhia Siderúrgica Nacional from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th. UBS Group began coverage on shares of Companhia Siderúrgica Nacional in a research report on Wednesday, March 12th. They set a "sell" rating and a $1.30 price objective on the stock.

Companhia Siderúrgica Nacional Stock Performance

The business has a 50-day moving average of $1.50 and a 200 day moving average of $1.81. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.34 and a quick ratio of 0.93. The company has a market cap of $2.38 billion, a PE ratio of -11.97 and a beta of 2.16.

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Companhia Siderúrgica Nacional had a negative return on equity of 5.79% and a negative net margin of 2.37%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $11.85 billion. Equities research analysts anticipate that Companhia Siderúrgica Nacional will post -0.02 EPS for the current fiscal year.

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Institutional Trading of Companhia Siderúrgica Nacional

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SID. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Companhia Siderúrgica Nacional during the 3rd quarter valued at $3,824,000. Northern Trust Corp lifted its position in Companhia Siderúrgica Nacional by 2,160.7% during the fourth quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company's stock valued at $2,282,000 after purchasing an additional 1,514,727 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Companhia Siderúrgica Nacional during the third quarter valued at about $3,585,000. JPMorgan Chase & Co. grew its holdings in Companhia Siderúrgica Nacional by 48,194.9% during the third quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company's stock valued at $1,056,000 after purchasing an additional 440,983 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Companhia Siderúrgica Nacional by 70.7% in the fourth quarter. BNP Paribas Financial Markets now owns 1,053,204 shares of the basic materials company's stock worth $1,517,000 after buying an additional 436,157 shares in the last quarter.

About Companhia Siderúrgica Nacional

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.