Companhia Siderúrgica Nacional (NYSE:SID) Stock Price Up 6.8% – Here’s Why

Companhia Siderúrgica Nacional (NYSE:SID) traded up 6.8% during trading on Wednesday . The stock traded as high as $1.48 and last traded at $1.49. 203,284 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,109,153 shares. The stock had previously closed at $1.39.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Trading Up 1.7 %

The firm has a market capitalization of $2.01 billion, a P/E ratio of -10.10 and a beta of 2.14. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77. The business’s 50 day moving average is $1.47 and its two-hundred day moving average is $1.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SID. Savvy Advisors Inc. bought a new position in Companhia Siderúrgica Nacional during the 3rd quarter valued at $55,000. Caprock Group LLC acquired a new stake in shares of Companhia Siderúrgica Nacional in the third quarter valued at $57,000. Dynamic Technology Lab Private Ltd bought a new position in Companhia Siderúrgica Nacional during the third quarter valued at about $101,000. The Manufacturers Life Insurance Company acquired a new position in Companhia Siderúrgica Nacional during the third quarter worth about $3,585,000. Finally, BNP Paribas Financial Markets grew its holdings in Companhia Siderúrgica Nacional by 11.8% during the third quarter. BNP Paribas Financial Markets now owns 617,047 shares of the basic materials company’s stock worth $1,475,000 after acquiring an additional 65,219 shares during the period.

About Companhia Siderúrgica Nacional

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.