Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Up – Time to Buy?

Companhia Siderúrgica Nacional (NYSE:SID) shares 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 changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. UBS Group began coverage on shares of Companhia Siderúrgica Nacional in a report on Wednesday. They set a “sell” rating and a $1.30 price objective on the stock.

Companhia Siderúrgica Nacional Trading Up 8.6 %

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 company’s fifty day moving average is $1.48 and its two-hundred day moving average is $1.82. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -10.63 and a beta of 2.16.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Several hedge funds have recently bought and sold shares of the stock. Pinnacle Wealth Planning Services Inc. boosted its position in Companhia Siderúrgica Nacional 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 purchasing an additional 9,314 shares in the last quarter. Graham Capital Management L.P. boosted its position in Companhia Siderúrgica Nacional by 42.1% in the 4th quarter. Graham Capital Management L.P. now owns 99,374 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 29,464 shares in the last quarter. BNP Paribas Financial Markets boosted its position in 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 worth $1,517,000 after purchasing an additional 436,157 shares in the last quarter. Northern Trust Corp boosted its position in 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 worth $2,282,000 after purchasing an additional 1,514,727 shares in the last quarter. Finally, Virtus ETF Advisers LLC boosted its position in Companhia Siderúrgica Nacional by 23.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 85,026 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 16,414 shares in the last quarter.

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.