Companhia Siderurgica Nacional (NYSE:SID) Shares Gap Down to $3.51

Shares of Companhia Siderurgica Nacional (NYSE:SID) gapped down before the market opened on Wednesday . The stock had previously closed at $3.60, but opened at $3.51. Companhia Siderurgica Nacional shares last traded at $3.45, with a volume of 6,437,615 shares traded.

Several brokerages have weighed in on SID. TheStreet raised shares of Companhia Siderurgica Nacional from a “c” rating to a “b-” rating in a research note on Friday, June 21st. Morgan Stanley lowered shares of Companhia Siderurgica Nacional from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 11th. Finally, ValuEngine lowered shares of Companhia Siderurgica Nacional from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $4.75.

The company has a debt-to-equity ratio of 1.90, a current ratio of 1.23 and a quick ratio of 0.71. The company has a market cap of $4.77 billion, a PE ratio of 3.40 and a beta of 1.75. The company’s 50 day simple moving average is $4.08 and its two-hundred day simple moving average is $3.89.

Institutional investors and hedge funds have recently modified their holdings of the company. Voloridge Investment Management LLC purchased a new position in shares of Companhia Siderurgica Nacional during the second quarter worth approximately $753,000. Jane Street Group LLC grew its position in Companhia Siderurgica Nacional by 40.1% in the 2nd quarter. Jane Street Group LLC now owns 89,916 shares of the basic materials company’s stock valued at $388,000 after buying an additional 25,745 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Companhia Siderurgica Nacional by 79.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 30,091 shares of the basic materials company’s stock valued at $130,000 after buying an additional 13,287 shares during the last quarter. Morgan Stanley grew its position in Companhia Siderurgica Nacional by 11.9% in the 2nd quarter. Morgan Stanley now owns 3,057,708 shares of the basic materials company’s stock valued at $13,179,000 after buying an additional 324,997 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Companhia Siderurgica Nacional by 26.7% in the 2nd quarter. AQR Capital Management LLC now owns 107,951 shares of the basic materials company’s stock valued at $465,000 after buying an additional 22,761 shares during the last quarter. 3.45% of the stock is currently owned by institutional investors and hedge funds.

Companhia Siderurgica Nacional Company Profile (NYSE:SID)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. The company operates in five segments: Steel, Mining, Cement, Logistics, and Energy. It offers flat steel, such as slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products that consist of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.

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