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

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $1.61, but opened at $1.53. Companhia Siderúrgica Nacional shares last traded at $1.53, with a volume of 750,638 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Companhia Siderúrgica Nacional from a "hold" rating to a "buy" rating in a report on Friday, May 16th. UBS Group initiated coverage on shares of Companhia Siderúrgica Nacional in a report on Wednesday, March 12th. They issued a "sell" rating and a $1.30 price target for the company.

Companhia Siderúrgica Nacional Trading Down 5.8%

The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77. The stock has a 50-day simple moving average of $1.59 and a 200 day simple moving average of $1.61. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -9.73 and a beta of 1.83.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Companhia Siderúrgica Nacional in the 4th quarter valued at about $35,000. Kapitalo Investimentos Ltda increased its position in shares of Companhia Siderúrgica Nacional by 1,530.8% in the first quarter. Kapitalo Investimentos Ltda now owns 25,979 shares of the basic materials company's stock valued at $43,000 after buying an additional 24,386 shares in the last quarter. First Affirmative Financial Network raised its stake in shares of Companhia Siderúrgica Nacional by 56.7% during the 1st quarter. First Affirmative Financial Network now owns 30,672 shares of the basic materials company's stock worth $51,000 after buying an additional 11,098 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Companhia Siderúrgica Nacional by 41.3% during the 4th 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 in the last quarter. Finally, Savvy Advisors Inc. grew its stake in Companhia Siderúrgica Nacional by 56.1% in the 4th 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.

About Companhia Siderúrgica Nacional

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.