National Steel (NYSE:SID) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• National Steel's stock price has recently crossed above its 200-day moving average, with shares trading at $1.55 after reaching a high of $1.56.
• Analysts have mixed opinions on the stock, with a consensus rating of "Sell" and a price target of $1.30, following ratings updates by Zacks and Weiss Ratings.
• Institutional investors have shown increased interest, with significant stake increases from Kapitalo Investimentos Ltda and Inspire Investing LLC among others during the first quarter.

National Steel Company (NYSE:SID - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.50 and traded as high as $1.56. National Steel shares last traded at $1.55, with a volume of 1,684,739 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SID shares. Zacks Research raised National Steel from a "strong sell" rating to a "hold" rating in a report on Friday, September 19th. Weiss Ratings reissued a "sell (d)" rating on shares of National Steel in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Sell" and a consensus price target of $1.30.

National Steel Stock Up 0.3%

The company has a quick ratio of 0.95, a current ratio of 1.35 and a debt-to-equity ratio of 2.60. The company has a fifty day moving average price of $1.45 and a 200-day moving average price of $1.50. The stock has a market capitalization of $2.05 billion, a P/E ratio of -5.33, a PEG ratio of 0.43 and a beta of 1.67.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SID. Kapitalo Investimentos Ltda grew its position in National Steel by 1,530.8% in the first quarter. Kapitalo Investimentos Ltda now owns 25,979 shares of the basic materials company's stock worth $43,000 after acquiring an additional 24,386 shares in the last quarter. Inspire Investing LLC grew its position in National Steel by 155.7% in the first quarter. Inspire Investing LLC now owns 31,681 shares of the basic materials company's stock worth $53,000 after acquiring an additional 19,289 shares in the last quarter. Savvy Advisors Inc. grew its position in National Steel by 18.7% in the first quarter. Savvy Advisors Inc. now owns 42,872 shares of the basic materials company's stock worth $72,000 after acquiring an additional 6,739 shares in the last quarter. EntryPoint Capital LLC grew its position in National Steel by 23.0% in the first quarter. EntryPoint Capital LLC now owns 46,975 shares of the basic materials company's stock worth $78,000 after acquiring an additional 8,798 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in National Steel by 41.4% in the first quarter. Headlands Technologies LLC now owns 62,710 shares of the basic materials company's stock worth $105,000 after acquiring an additional 18,359 shares in the last quarter.

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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