National Steel (NYSE:SID) Sets New 12-Month Low - What's Next?

Key Points

• National Steel Company (NYSE:SID) shares hit a new **52-week low** of $1.24, trading at **$1.26** with significant volume of over 3 million shares.
• Despite the low stock price, **Wall Street Zen** upgraded National Steel from a "hold" to a "buy" rating, though the consensus remains a "Sell" with an average price target of **$1.30**.

National Steel Company (NYSE:SID - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $1.24 and last traded at $1.26, with a volume of 3145114 shares. The stock had previously closed at $1.27.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised National Steel from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell" and an average price target of $1.30.

National Steel Trading Up 5.1%

The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.95 and a current ratio of 1.35. The business has a fifty day simple moving average of $1.43 and a 200 day simple moving average of $1.53. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -4.60 and a beta of 1.64.

National Steel (NYSE:SID - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.09). National Steel had a negative net margin of 5.06% and a negative return on equity of 13.90%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $10.98 billion. As a group, research analysts expect that National Steel Company will post -0.02 EPS for the current year.

Institutional Trading of National Steel

A number of institutional investors have recently modified their holdings of SID. Invesco Ltd. lifted its position in shares of National Steel by 31.1% during the 4th quarter. Invesco Ltd. now owns 269,342 shares of the basic materials company's stock valued at $388,000 after acquiring an additional 63,880 shares during the period. Virtus ETF Advisers LLC lifted its position in shares of National Steel by 23.9% during the 4th quarter. Virtus ETF Advisers LLC now owns 85,026 shares of the basic materials company's stock valued at $122,000 after acquiring an additional 16,414 shares during the period. Northern Trust Corp lifted its position in shares of National Steel by 2,160.7% during the 4th quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company's stock valued at $2,282,000 after acquiring an additional 1,514,727 shares during the period. BNP Paribas Financial Markets lifted its position in shares of National Steel 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 acquiring an additional 436,157 shares during the period. Finally, Graham Capital Management L.P. lifted its position in shares of National Steel by 42.1% during the 4th quarter. Graham Capital Management L.P. now owns 99,374 shares of the basic materials company's stock valued at $143,000 after acquiring an additional 29,464 shares during the period.

About National Steel

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.