National Steel (NYSE:SID) Sees Large Volume Increase - Here's Why

Key Points

• National Steel shares saw a 154% surge in trading volume to approximately 11.8 million shares, while the stock fell 2.3% to $0.98 from its prior close of $1.01.
• Analyst sentiment remains bearish: National Steel has an average rating of “Sell”, with two Sell ratings and one Hold rating, despite a consensus price target of $1.40.
• The company reported a quarterly loss of $0.08 per share, missing estimates by $0.13, alongside $2.04 billion in revenue and negative net margin and return on equity.

National Steel Company (NYSE:SID - Get Free Report) shares saw strong trading volume on Friday . Approximately 11,794,831 shares changed hands during trading, an increase of 154% from the previous session's volume of 4,635,570 shares.The stock last traded at $0.98 and had previously closed at $1.01.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SID. Weiss Ratings reiterated a "sell (d-)" rating on shares of National Steel in a research report on Wednesday, June 17th. Zacks Research raised shares of National Steel from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, National Steel currently has an average rating of "Sell" and a consensus price target of $1.40.

National Steel Trading Down 2.3%

The company has a fifty day moving average of $1.10 and a 200-day moving average of $1.36. The company has a current ratio of 1.11, a quick ratio of 0.73 and a debt-to-equity ratio of 2.60. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.11 and a beta of 1.58.

National Steel (NYSE:SID - Get Free Report) last issued its earnings results on Thursday, May 14th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.13). National Steel had a negative net margin of 3.92% and a negative return on equity of 10.69%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.08 billion. As a group, equities research analysts anticipate that National Steel Company will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of National Steel

An institutional investor recently raised its stake in National Steel stock. HRT Financial LP grew its holdings in National Steel Company (NYSE:SID - Free Report) by 175.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 564,262 shares of the basic materials company's stock after buying an additional 359,335 shares during the period. HRT Financial LP's holdings in National Steel were worth $902,000 at the end of the most recent reporting 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.

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