National Steel (NYSE:SID) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• National Steel shares surpassed their 200-day moving average of $1.50, trading at $1.67 with significant volume, indicating investor interest in the stock.
• Recent analyst ratings show a consensus of "Sell" for National Steel, despite a recent upgrade from Zacks Research to a "Hold" rating.
• The company reported a loss of $0.02 per share in its latest earnings, significantly below expectations, and had a negative net margin of 5.06%.

National Steel Company (NYSE:SID - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.50 and traded as high as $1.67. National Steel shares last traded at $1.67, with a volume of 6,824,248 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SID shares. Zacks Research raised shares of National Steel from a "strong sell" rating to a "hold" rating in a research report on Friday, September 19th. Weiss Ratings reissued a "sell (d)" rating on shares of National Steel in a report on Saturday, September 27th. 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, the stock has a consensus rating of "Sell" and an average price target of $1.30.

National Steel Price Performance

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 stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.74, a P/E/G ratio of 0.44 and a beta of 1.67. The business's 50 day simple moving average is $1.43 and its 200-day simple moving average is $1.50.

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 for the quarter, missing analysts' consensus estimates of $0.07 by ($0.09). The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $10.98 billion. National Steel had a negative net margin of 5.06% and a negative return on equity of 13.90%. On average, research analysts forecast that National Steel Company will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On National Steel

A number of hedge funds have recently modified their holdings of the business. Kapitalo Investimentos Ltda lifted its stake in shares of 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 during the period. Inspire Investing LLC lifted its position in shares of National Steel by 155.7% in the 1st quarter. Inspire Investing LLC now owns 31,681 shares of the basic materials company's stock worth $53,000 after purchasing an additional 19,289 shares during the period. Savvy Advisors Inc. boosted its stake in shares of National Steel by 18.7% in the 1st quarter. Savvy Advisors Inc. now owns 42,872 shares of the basic materials company's stock valued at $72,000 after purchasing an additional 6,739 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of National Steel by 23.0% during the first quarter. EntryPoint Capital LLC now owns 46,975 shares of the basic materials company's stock worth $78,000 after buying an additional 8,798 shares during the period. Finally, Headlands Technologies LLC raised its stake in National Steel by 41.4% during the first quarter. Headlands Technologies LLC now owns 62,710 shares of the basic materials company's stock worth $105,000 after buying an additional 18,359 shares during 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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