Companhia Siderurgica Nacional (SID) Shares Gap Down to $2.44

Shares of Companhia Siderurgica Nacional (NYSE:SID) gapped down before the market opened on Friday . The stock had previously closed at $2.53, but opened at $2.44. Companhia Siderurgica Nacional shares last traded at $2.33, with a volume of 4103483 shares.

SID has been the topic of several recent research reports. Zacks Investment Research downgraded Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet raised Companhia Siderurgica Nacional from a “d+” rating to a “c” rating in a research note on Friday, May 18th. Finally, Credit Suisse Group raised Companhia Siderurgica Nacional from a “neutral” rating to an “outperform” rating in a research note on Monday, June 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Companhia Siderurgica Nacional has a consensus rating of “Hold” and a consensus target price of $2.25.

The company has a debt-to-equity ratio of 2.99, a current ratio of 1.25 and a quick ratio of 0.65.



Large investors have recently added to or reduced their stakes in the stock. IPG Investment Advisors LLC acquired a new stake in shares of Companhia Siderurgica Nacional in the second quarter valued at about $119,000. Banco de Sabadell S.A acquired a new stake in shares of Companhia Siderurgica Nacional in the first quarter valued at about $152,000. Deutsche Bank AG increased its position in shares of Companhia Siderurgica Nacional by 33.6% in the fourth quarter. Deutsche Bank AG now owns 61,795 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 15,537 shares during the last quarter. Credit Agricole S A acquired a new stake in shares of Companhia Siderurgica Nacional in the second quarter valued at about $193,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Companhia Siderurgica Nacional in the first quarter valued at about $397,000. 2.90% of the stock is currently owned by institutional investors and hedge funds.

About Companhia Siderurgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil. It operates through five segments: Steel, Mining, Logistics, Cement, and Energy. It produces a line of steel products, including slabs, hot and cold-rolled, galvanized, and tin mill products for the distribution, packaging, automotive, home appliance, and construction industries.

Further Reading: Average Daily Trade Volume – What You Need to Know

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