Companhia Siderúrgica Nacional (NYSE:SID) Stock Price Up 6.8% – Here’s Why

Companhia Siderúrgica Nacional (NYSE:SID)’s share price traded up 6.8% during mid-day trading on Wednesday . The stock traded as high as $1.48 and last traded at $1.49. 203,284 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 2,109,153 shares. The stock had previously closed at $1.39.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Stock Up 6.8 %

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 has a fifty day simple moving average of $1.47 and a two-hundred day simple moving average of $1.85. The firm has a market capitalization of $1.97 billion, a PE ratio of -9.90 and a beta of 2.14.

Institutional Trading of Companhia Siderúrgica Nacional

A number of hedge funds have recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of 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 valued at $46,000 after purchasing an additional 9,314 shares in the last quarter. Savvy Advisors Inc. lifted its holdings in Companhia Siderúrgica Nacional by 56.1% during the fourth quarter. Savvy Advisors Inc. now owns 36,133 shares of the basic materials company’s stock worth $52,000 after buying an additional 12,987 shares during the period. PDS Planning Inc bought a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at $32,000. Virtus ETF Advisers LLC increased its holdings in shares of 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 valued at $122,000 after acquiring an additional 16,414 shares during the period. Finally, Caprock Group LLC bought a new position in shares of Companhia Siderúrgica Nacional in the 3rd quarter worth $57,000.

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.