Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Up - Here's Why

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $1.74, but opened at $1.78. Companhia Siderúrgica Nacional shares last traded at $1.79, with a volume of 184,971 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SID shares. UBS Group assumed coverage on shares of Companhia Siderúrgica Nacional in a research report on Wednesday, March 12th. They issued a "sell" rating and a $1.30 target price for the company. StockNews.com lowered Companhia Siderúrgica Nacional from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Trading Down 2.0 %

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 business's fifty day simple moving average is $1.57 and its 200 day simple moving average is $1.79. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -11.37 and a beta of 2.16.

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

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Companhia Siderúrgica Nacional in the 4th quarter worth approximately $35,000. Pinnacle Wealth Planning Services Inc. lifted 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 valued at $46,000 after buying an additional 9,314 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in shares of Companhia Siderúrgica Nacional by 56.1% during the fourth quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 12,987 shares during the period. EntryPoint Capital LLC bought a new position in shares of Companhia Siderúrgica Nacional during the fourth quarter worth about $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Companhia Siderúrgica Nacional in the 3rd quarter worth about $101,000.

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.