National Steel (NYSE:SID) Sees Large Volume Increase - Time to Buy?

Key Points

• National Steel shares rose 4.7% to $1.305 as trading volume increased 41% to 6.35 million shares.
• Analysts remain strongly bearish: three firms rate the stock “Sell” or worse, with a consensus rating of “Strong Sell” and a $1.40 target price.
• The company matched quarterly EPS expectations at a loss of $0.12 while revenue exceeded estimates, but it continues to report negative profitability and high leverage, including a debt-to-equity ratio of 2.96.

National Steel Company (NYSE:SID - Get Free Report) shares saw strong trading volume on Thursday . 6,347,361 shares traded hands during trading, an increase of 41% from the previous session's volume of 4,502,838 shares.The stock last traded at $1.3050 and had previously closed at $1.17.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SID. Wall Street Zen cut National Steel from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Zacks Research lowered National Steel from a "hold" rating to a "strong sell" rating in a report on Thursday, August 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of National Steel in a research note on Wednesday, June 17th. Three equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Strong Sell" and a consensus target price of $1.40.

National Steel Stock Up 4.7%

The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.79 and a current ratio of 1.15. The stock has a market cap of $1.62 billion, a P/E ratio of -3.60 and a beta of 1.61. The firm has a 50 day simple moving average of $0.98 and a two-hundred day simple moving average of $1.21.

National Steel (NYSE:SID - Get Free Report) last announced its earnings results on Thursday, August 13th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12). National Steel had a negative return on equity of 14.90% and a negative net margin of 5.26%.The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. Equities research analysts predict that National Steel Company will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP boosted 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 Securities & Exchange Commission. The fund owned 564,262 shares of the basic materials company's stock after buying an additional 359,335 shares during the quarter. HRT Financial LP's holdings in National Steel were worth $902,000 at the end of the most recent reporting period.

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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