National Steel (NYSE:SID) Shares Up 7.3% - Here's What Happened

Key Points

• Shares of National Steel (NYSE:SID) jumped 7.3% intraday to about $1.25–$1.2550 on Tuesday, with 6.17 million shares traded—roughly 14% above the stock's average session volume.
• Wall Street sentiment is negative: the consensus rating is Strong Sell with three analysts at "Sell" and a consensus target price of $1.40; UBS raised its target to $1.40 but still maintains a "sell" rating.
• Fundamentals show a market cap of $1.62 billion, a negative P/E (-7.26) and a high debt-to-equity ratio (2.49), while HRT Financial LP boosted its stake by 175% to 564,262 shares in Q4.

National Steel Company (NYSE:SID - Get Free Report) shot up 7.3% during mid-day trading on Tuesday . The stock traded as high as $1.25 and last traded at $1.2550. 6,169,402 shares were traded during trading, an increase of 14% from the average session volume of 5,426,245 shares. The stock had previously closed at $1.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group lifted their price target 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 National Steel from a "hold" rating to a "strong sell" rating in a research note on Monday, March 9th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of National Steel in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and a consensus target price of $1.40.

National Steel Stock Performance

The firm has a market cap of $1.62 billion, a P/E ratio of -7.26 and a beta of 1.67. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 2.49. The company's 50-day moving average is $1.73 and its two-hundred day moving average is $1.64.

Institutional Investors Weigh In On National Steel

A hedge fund recently raised its stake in National Steel stock. HRT Financial LP raised its stake in shares of National Steel Company (NYSE:SID - Free Report) by 175.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 564,262 shares of the basic materials company's stock after acquiring an additional 359,335 shares during the period. HRT Financial LP's holdings in National Steel were worth $902,000 as of its most recent SEC filing.

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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