Companhia Siderúrgica Nacional (NYSE:SID) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Companhia Siderúrgica Nacional (NYSE:SID) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.80 and traded as high as $1.80. Companhia Siderúrgica Nacional shares last traded at $1.78, with a volume of 1,332,841 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SID. UBS Group began coverage on Companhia Siderúrgica Nacional in a research note on Wednesday, March 12th. They set a “sell” rating and a $1.30 price target for the company. StockNews.com lowered Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Companhia Siderúrgica Nacional Price Performance

The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.93 and a current ratio of 1.34. The firm has a fifty day simple moving average of $1.53 and a 200 day simple moving average of $1.80. The company has a market capitalization of $2.35 billion, a PE ratio of -11.83 and a beta of 2.16.

Companhia Siderúrgica Nacional (NYSE:SID) last issued its earnings results on Wednesday, March 12th. The basic materials company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $11.85 billion. Companhia Siderúrgica Nacional had a negative return on equity of 5.79% and a negative net margin of 2.37%. Equities analysts anticipate that Companhia Siderúrgica Nacional will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Companhia Siderúrgica Nacional during the 4th quarter valued at $35,000. Pinnacle Wealth Planning Services Inc. raised its position in Companhia Siderúrgica Nacional by 41.3% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 31,855 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 9,314 shares in the last quarter. Savvy Advisors Inc. raised its position in Companhia Siderúrgica Nacional by 56.1% during the 4th quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 12,987 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Companhia Siderúrgica Nacional during the 4th quarter valued at $55,000. Finally, Caprock Group LLC bought a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at $57,000.

Companhia Siderúrgica Nacional 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.