National Steel Company (NYSE:SID) saw a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 17,383,284 shares, an increase of 21.2% from the September 29th total of 14,345,138 shares. Based on an average daily volume of 3,750,994 shares, the days-to-cover ratio is currently 4.6 days.

National Steel (NYSE:SID) opened at 2.73 on Monday. The firm has a 50-day moving average of $3.13 and a 200-day moving average of $2.53. National Steel has a 1-year low of $1.76 and a 1-year high of $4.24. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 8.81 and a beta of 2.26.

A number of research analysts have commented on SID shares. Credit Suisse Group upgraded shares of National Steel from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 7th. BidaskClub upgraded shares of National Steel from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th.

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its position in shares of National Steel by 343.8% in the 1st quarter. Morgan Stanley now owns 3,237,262 shares of the basic materials company’s stock worth $9,453,000 after buying an additional 2,507,863 shares during the last quarter. Credit Suisse AG lifted its position in shares of National Steel by 11.2% in the 1st quarter. Credit Suisse AG now owns 735,909 shares of the basic materials company’s stock worth $2,150,000 after buying an additional 74,312 shares during the last quarter. UBS Group AG lifted its position in shares of National Steel by 97.3% in the 1st quarter. UBS Group AG now owns 106,345 shares of the basic materials company’s stock worth $310,000 after buying an additional 52,458 shares during the last quarter. KCG Holdings Inc. lifted its position in shares of National Steel by 58.7% in the 1st quarter. KCG Holdings Inc. now owns 79,803 shares of the basic materials company’s stock worth $233,000 after buying an additional 29,502 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of National Steel by 1.3% in the 1st quarter. Comerica Bank now owns 79,557 shares of the basic materials company’s stock worth $190,000 after buying an additional 1,034 shares during the last quarter. Institutional investors own 3.23% of the company’s stock.

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About National Steel

Companhia Siderurgica Nacional is a Brazil-based company engaged in the steel industry. The Company operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Company operates in five segments: Steel, Mining, Cement, Logistics and Energy.

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