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

Shares of Companhia Siderúrgica Nacional (NYSE:SID) gapped up prior to trading 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 Analysts Forecast Growth

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

Companhia Siderúrgica Nacional Trading Up 13.0 %

The firm has a market cap of $2.37 billion, a PE ratio of -11.90 and a beta of 2.16. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77. The business has a fifty day moving average price of $1.48 and a 200 day moving average price of $1.82.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased 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 acquiring an additional 440,983 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Companhia Siderúrgica Nacional during the 4th quarter worth approximately $35,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Companhia Siderúrgica Nacional during the 3rd quarter worth approximately $3,824,000. The Manufacturers Life Insurance Company purchased a new position in Companhia Siderúrgica Nacional during the 3rd quarter worth approximately $3,585,000. Finally, BNP Paribas Financial Markets grew its stake in Companhia Siderúrgica Nacional by 11.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 617,047 shares of the basic materials company’s stock worth $1,475,000 after buying an additional 65,219 shares during the last quarter.

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.