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

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report)'s share price dropped 4.8% during mid-day trading on Friday . The stock traded as low as $1.47 and last traded at $1.48. Approximately 1,348,466 shares traded hands during 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 subject of several research reports. Wall Street Zen raised Companhia Siderúrgica Nacional from a "hold" rating to a "buy" rating in a report on Friday, May 16th. UBS Group initiated coverage on Companhia Siderúrgica Nacional in a report on Wednesday, March 12th. They set a "sell" rating and a $1.30 price target for the company.

Companhia Siderúrgica Nacional Stock 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 market cap of $1.94 billion, a P/E ratio of -9.73 and a beta of 1.83. The firm has a 50-day simple moving average of $1.59 and a two-hundred day simple moving average of $1.60.

Companhia Siderúrgica Nacional (NYSE:SID - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The basic materials company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The firm had revenue of $2.06 billion for 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%. Equities research analysts expect that Companhia Siderúrgica Nacional will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SID. Northern Trust Corp increased its position in Companhia Siderúrgica Nacional by 2,160.7% during the 4th quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company's stock worth $2,282,000 after buying an additional 1,514,727 shares during the period. BNP Paribas Financial Markets increased its position in shares of Companhia Siderúrgica Nacional by 70.7% in the fourth quarter. BNP Paribas Financial Markets now owns 1,053,204 shares of the basic materials company's stock worth $1,517,000 after purchasing an additional 436,157 shares during the period. XTX Topco Ltd increased its position in shares of Companhia Siderúrgica Nacional by 1,323.3% in the first quarter. XTX Topco Ltd now owns 299,898 shares of the basic materials company's stock worth $501,000 after purchasing an additional 278,828 shares during the period. American Century Companies Inc. increased its position in shares of Companhia Siderúrgica Nacional by 4.2% in the fourth quarter. American Century Companies Inc. now owns 2,173,564 shares of the basic materials company's stock worth $3,130,000 after purchasing an additional 87,403 shares during the period. Finally, Invesco Ltd. increased its position in shares of Companhia Siderúrgica Nacional by 31.1% in the fourth quarter. Invesco Ltd. now owns 269,342 shares of the basic materials company's stock worth $388,000 after purchasing an additional 63,880 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.