Companhia Siderúrgica Nacional (NYSE:SID) Trading Down 2.5% – Here’s What Happened

Companhia Siderúrgica Nacional (NYSE:SID)’s share price dropped 2.5% during mid-day trading on Friday . The stock traded as low as $2.30 and last traded at $2.31. Approximately 161,044 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,243,564 shares. The stock had previously closed at $2.37.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Companhia Siderúrgica Nacional Trading Down 1.7 %

The business’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $2.47. The company has a market cap of $3.23 billion, a PE ratio of 26.28, a P/E/G ratio of 0.72 and a beta of 2.13. The company has a current ratio of 1.29, a quick ratio of 0.89 and a debt-to-equity ratio of 2.56.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its quarterly 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 business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $1.94 billion. Companhia Siderúrgica Nacional had a negative net margin of 0.34% and a negative return on equity of 0.79%. As a group, analysts expect that Companhia Siderúrgica Nacional will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in Companhia Siderúrgica Nacional by 51.7% in the second quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock worth $4,435,000 after buying an additional 656,983 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Companhia Siderúrgica Nacional by 17.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock worth $4,236,000 after purchasing an additional 271,176 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Companhia Siderúrgica Nacional by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock worth $4,248,000 after purchasing an additional 236,340 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of Companhia Siderúrgica Nacional during the 1st quarter valued at $311,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Companhia Siderúrgica Nacional in the 2nd quarter valued at $153,000.

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.