National Steel (NYSE:SID) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

National Steel Company (NYSE:SID)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.62 and traded as high as $1.69. National Steel shares last traded at $1.6650, with a volume of 3,742,338 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of National Steel in a report on Wednesday, January 21st. UBS Group upped their price objective on shares of National Steel from $1.30 to $1.40 and gave the stock a “sell” rating in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, National Steel has a consensus rating of “Sell” and an average price target of $1.40.

National Steel Stock Performance

The stock has a 50 day moving average of $1.78 and a two-hundred day moving average of $1.62. The stock has a market capitalization of $2.21 billion, a PE ratio of -9.79 and a beta of 1.66. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.32 and a quick ratio of 0.91.

Hedge Funds Weigh In On National Steel

An institutional investor recently raised its position in National Steel stock. HRT Financial LP lifted its stake in National Steel Company (NYSE:SID) by 175.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 564,262 shares of the basic materials company’s stock after purchasing an additional 359,335 shares during the period. HRT Financial LP’s holdings in National Steel were worth $902,000 as of its most recent SEC filing.

National Steel 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.