Companhia Siderúrgica Nacional (NYSE:SID) Trading Down 4.8% - Here's What Happened

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) shares dropped 4.8% during mid-day trading on Friday . The company traded as low as $1.47 and last traded at $1.48. Approximately 1,348,466 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 2,236,125 shares. The stock had previously closed at $1.55.

Analyst Ratings Changes

SID has been the topic of several research analyst reports. UBS Group began coverage on shares of Companhia Siderúrgica Nacional in a research note on Wednesday, March 12th. They set a "sell" rating and a $1.30 target price on the stock. Wall Street Zen upgraded shares of Companhia Siderúrgica Nacional from a "hold" rating to a "buy" rating in a research report on Friday, May 16th.

Companhia Siderúrgica Nacional Stock Up 3.1%

The stock has a fifty day moving average of $1.58 and a 200-day moving average of $1.60. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -9.90 and a beta of 1.83. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77.

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) last issued its earnings results on Wednesday, March 12th. The basic materials company reported ($0.08) 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 analysts' expectations 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, sell-side analysts expect that Companhia Siderúrgica Nacional will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several institutional investors and hedge funds have recently bought and sold shares of SID. Northern Trust Corp lifted its position in shares of Companhia Siderúrgica Nacional by 2,160.7% in the fourth quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company's stock worth $2,282,000 after purchasing an additional 1,514,727 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Companhia Siderúrgica Nacional in the 4th quarter valued at approximately $35,000. EntryPoint Capital LLC purchased a new stake in Companhia Siderúrgica Nacional in the 4th quarter worth approximately $55,000. Invesco Ltd. lifted its position in Companhia Siderúrgica Nacional by 31.1% in the 4th quarter. Invesco Ltd. now owns 269,342 shares of the basic materials company's stock worth $388,000 after buying an additional 63,880 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Companhia Siderúrgica Nacional by 70.7% during the 4th quarter. BNP Paribas Financial Markets now owns 1,053,204 shares of the basic materials company's stock valued at $1,517,000 after buying an additional 436,157 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.