Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Up – What’s Next?

Companhia Siderúrgica Nacional (NYSE:SID) gapped up before the market opened on Thursday . The stock had previously closed at $1.46, but opened at $1.57. Companhia Siderúrgica Nacional shares last traded at $1.59, with a volume of 273,422 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SID. StockNews.com lowered Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. UBS Group initiated coverage on Companhia Siderúrgica Nacional in a research report on Wednesday. They issued a “sell” rating and a $1.30 target price on the stock.

Companhia Siderúrgica Nacional Price Performance

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 company has a market cap of $2.37 billion, a PE ratio of -11.90 and a beta of 2.16. The stock has a 50-day simple moving average of $1.48 and a 200 day simple moving average of $1.82.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SID. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Companhia Siderúrgica Nacional in the 3rd quarter valued at $3,824,000. Northern Trust Corp raised its holdings in shares of Companhia Siderúrgica Nacional by 2,160.7% in the 4th quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company’s stock valued at $2,282,000 after buying an additional 1,514,727 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Companhia Siderúrgica Nacional in the 3rd quarter valued at $3,585,000. JPMorgan Chase & Co. raised its holdings in shares of Companhia Siderúrgica Nacional by 48,194.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company’s stock valued at $1,056,000 after buying an additional 440,983 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Companhia Siderúrgica Nacional by 70.7% in the 4th quarter. BNP Paribas Financial Markets now owns 1,053,204 shares of the basic materials company’s stock valued at $1,517,000 after buying an additional 436,157 shares during the period.

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.