National Steel (NYSE:SID) Shares Gap Down - What's Next?

Key Points

• Shares of National Steel (SID) gapped down Thursday, opening at $1.30 after a $1.38 close and last trading at $1.2750 on a volume of 3,082,641 shares.
• Analysts overwhelmingly rate the stock a Strong Sell (three sell ratings), with an average target price of $1.40 and recent downgrades from Zacks and Weiss.
• HRT Financial LP raised its stake by 175.3% in Q4 to 564,262 shares (about $902,000), while the company shows a negative PE (-7.44) and elevated leverage (debt/equity 2.49).

National Steel Company (NYSE:SID - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $1.38, but opened at $1.30. National Steel shares last traded at $1.2750, with a volume of 3,082,641 shares changing hands.

Wall Street Analysts Forecast Growth

SID has been the subject of several analyst reports. UBS Group boosted their target price on shares of National Steel from $1.30 to $1.40 and gave the company a "sell" rating in a research note on Monday, December 15th. Zacks Research cut shares of National Steel from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of National Steel in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, National Steel has an average rating of "Strong Sell" and an average target price of $1.40.

National Steel Stock Performance

The firm has a market cap of $1.68 billion, a PE ratio of -7.44 and a beta of 1.67. The stock has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.64. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.32 and a quick ratio of 0.91.

Institutional Investors Weigh In On National Steel

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

National Steel Company Profile

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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