National Steel Company (NYSE:SID) Short Interest Update

Key Points

• The short interest in National Steel Company (NYSE:SID) decreased by 23.5% in August, falling from 10,720,000 shares to 8,200,000 shares.
• Several institutional investors significantly increased their holdings in National Steel, with Northern Trust Corp raising its position by 2,160.7% and XTX Topco Ltd by 1,323.3% during the recent quarters.
• National Steel reported a negative earnings per share of ($0.02) for the last quarter, missing analysts' estimates, amidst a revenue of $1.91 billion compared to a consensus estimate of $10.98 billion.

National Steel Company (NYSE:SID - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 8,200,000 shares, a decrease of 23.5% from the August 15th total of 10,720,000 shares. Based on an average daily trading volume, of 3,030,000 shares, the short-interest ratio is currently 2.7 days. Approximately 0.6% of the shares of the stock are short sold. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,030,000 shares, the short-interest ratio is currently 2.7 days.

Hedge Funds Weigh In On National Steel

Institutional investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda increased its stake in National Steel by 1,530.8% in the 1st 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 last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in National Steel by 41.3% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 31,855 shares of the basic materials company's stock worth $46,000 after acquiring an additional 9,314 shares during the last quarter. First Affirmative Financial Network increased its stake in National Steel by 56.7% in the 1st quarter. First Affirmative Financial Network now owns 30,672 shares of the basic materials company's stock worth $51,000 after acquiring an additional 11,098 shares during the last quarter. Inspire Investing LLC increased its stake in 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 acquiring an additional 19,289 shares during the last quarter. Finally, Savvy Advisors Inc. increased its stake in National Steel by 18.7% in the 1st 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 during the last quarter.

National Steel Price Performance

Shares of SID traded down $0.05 during midday trading on Thursday, hitting $1.50. 2,287,689 shares of the company traded hands, compared to its average volume of 1,864,880. The stock has a 50-day moving average of $1.42 and a 200-day moving average of $1.51. National Steel has a one year low of $1.24 and a one year high of $2.50. The firm has a market cap of $1.98 billion, a P/E ratio of -5.16, a PEG ratio of 0.43 and a beta of 1.60. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.35 and a quick ratio of 0.95.

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

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.