Companhia Siderúrgica Nacional (NYSE:SID) Stock Price Up 9.8% - Time to Buy?

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report)'s stock price traded up 9.8% during trading on Friday . The stock traded as high as $1.74 and last traded at $1.74. 1,245,312 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 2,135,264 shares. The stock had previously closed at $1.58.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group assumed coverage on Companhia Siderúrgica Nacional in a research report on Wednesday, March 12th. They issued a "sell" rating and a $1.30 price objective on the stock. StockNews.com lowered Companhia Siderúrgica Nacional from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77. The company has a 50-day moving average price of $1.50 and a 200-day moving average price of $1.81. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -11.63 and a beta of 2.16.

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

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Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Companhia Siderúrgica Nacional by 48,194.9% in the third quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company's stock worth $1,056,000 after purchasing an additional 440,983 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Companhia Siderúrgica Nacional in the fourth quarter worth approximately $35,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Companhia Siderúrgica Nacional in the third quarter worth approximately $3,824,000. The Manufacturers Life Insurance Company acquired a new stake in Companhia Siderúrgica Nacional in the third quarter worth approximately $3,585,000. Finally, BNP Paribas Financial Markets lifted its position in Companhia Siderúrgica Nacional by 11.8% in the third quarter. BNP Paribas Financial Markets now owns 617,047 shares of the basic materials company's stock worth $1,475,000 after purchasing an additional 65,219 shares during the period.

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.