National Steel (NYSE:SID) Stock Price Up 5.3% - Here's What Happened

Key Points

• National Steel shares rose 5.3% on Friday, briefly trading as high as $1.0099 before closing near $1.0050. Trading volume was well below normal, with about 689,460 shares changing hands versus an average of 4.8 million.
• Recent analyst sentiment remains weak: Weiss Ratings reiterated a sell (d-) rating, while Zacks upgraded the stock to hold from strong sell. MarketBeat reports a consensus rating of Sell with a $1.40 price target.
• The company’s latest quarterly results missed expectations, posting an EPS loss of $0.08 versus a $0.05 profit estimate and revenue of $2.04 billion versus $2.08 billion expected. Despite the earnings miss, hedge fund HRT Financial LP boosted its stake by 175.3% in the fourth quarter.

National Steel Company (NYSE:SID - Get Free Report)'s share price traded up 5.3% on Friday . The company traded as high as $1.0099 and last traded at $1.0050. Approximately 689,460 shares were traded during mid-day trading, a decline of 86% from the average session volume of 4,797,098 shares. The stock had previously closed at $0.9547.

Analysts Set New Price Targets

SID has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of National Steel in a research report on Wednesday, June 17th. Zacks Research upgraded shares of National Steel from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, National Steel has a consensus rating of "Sell" and a consensus price target of $1.40.

National Steel Stock Up 7.4%

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 firm's 50 day moving average price is $1.18 and its two-hundred day moving average price is $1.43. The company has a market capitalization of $1.36 billion, a P/E ratio of -4.27 and a beta of 1.58.

National Steel (NYSE:SID - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.08 billion. Equities research analysts forecast that National Steel Company will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in National Steel stock. HRT Financial LP increased its holdings in shares of National Steel Company (NYSE:SID - Free Report) by 175.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 564,262 shares of the basic materials company's stock after acquiring 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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