Companhia Siderúrgica Nacional (NYSE:SID) Sees Unusually-High Trading Volume

Companhia Siderúrgica Nacional (NYSE:SIDGet Rating) saw strong trading volume on Friday . 495,039 shares traded hands during mid-day trading, a decline of 88% from the previous session’s volume of 3,962,768 shares.The stock last traded at $2.44 and had previously closed at $2.59.

Analysts Set New Price Targets

Several research firms have recently commented on SID. Bank of America cut Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating in a research note on Friday, August 26th. TheStreet cut Companhia Siderúrgica Nacional from a “b-” rating to a “c+” rating in a research note on Monday, July 11th. Finally, Bradesco Corretora cut Companhia Siderúrgica Nacional from an “outperform” rating to a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Companhia Siderúrgica Nacional Price Performance

The company has a debt-to-equity ratio of 1.25, a current ratio of 1.68 and a quick ratio of 1.12. The company has a 50-day simple moving average of $2.82 and a two-hundred day simple moving average of $3.77. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 4.62, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Koshinski Asset Management Inc. raised its stake in shares of Companhia Siderúrgica Nacional by 12.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 17,512 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 2,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Companhia Siderúrgica Nacional by 4.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,453 shares of the basic materials company’s stock worth $339,000 after buying an additional 2,595 shares during the period. Sei Investments Co. grew its holdings in shares of Companhia Siderúrgica Nacional by 31.8% during the 1st quarter. Sei Investments Co. now owns 13,378 shares of the basic materials company’s stock worth $73,000 after purchasing an additional 3,224 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Companhia Siderúrgica Nacional by 724.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,828 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Companhia Siderúrgica Nacional by 37.4% in the 1st quarter. Guggenheim Capital LLC now owns 22,985 shares of the basic materials company’s stock valued at $125,000 after buying an additional 6,261 shares in the last quarter. Institutional investors and hedge funds own 2.82% of the company’s stock.

Companhia Siderúrgica Nacional Company Profile

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Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates in 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 that consist 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.

Further Reading

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