Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down to $2.08

Companhia Siderúrgica Nacional (NYSE:SID)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $2.08, but opened at $1.99. Companhia Siderúrgica Nacional shares last traded at $1.97, with a volume of 510,331 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Companhia Siderúrgica Nacional from a “hold” rating to a “buy” rating in a report on Friday, August 16th.

Companhia Siderúrgica Nacional Price Performance

The company has a current ratio of 1.29, a quick ratio of 0.89 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $2.78 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.66 and a beta of 2.13. The firm has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.51.

Companhia Siderúrgica Nacional (NYSE:SID) last issued its earnings results on Monday, August 12th. The basic materials company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.18. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.94 billion. Companhia Siderúrgica Nacional had a negative net margin of 0.34% and a negative return on equity of 0.79%. Research analysts anticipate that Companhia Siderúrgica Nacional will post 0.17 earnings per share for the current year.

Institutional Trading of Companhia Siderúrgica Nacional

Hedge funds have recently bought and sold shares of the stock. Banco BTG Pactual S.A. acquired a new position in shares of Companhia Siderúrgica Nacional during the fourth quarter valued at about $1,510,000. Van ECK Associates Corp raised its holdings in shares of Companhia Siderúrgica Nacional by 17.3% during the second quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock valued at $4,236,000 after acquiring an additional 271,176 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Companhia Siderúrgica Nacional by 880.8% during the 1st quarter. BNP Paribas Financial Markets now owns 69,051 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 62,011 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Companhia Siderúrgica Nacional during the fourth quarter worth $51,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Companhia Siderúrgica Nacional during the 4th quarter valued at about $114,000.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products consisting of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.