Short Interest in Companhia Siderúrgica Nacional (NYSE:SID) Rises By 19.6%

Companhia Siderúrgica Nacional (NYSE:SIDGet Free Report) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 5,970,000 shares, a growth of 19.6% from the April 15th total of 4,990,000 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 2,900,000 shares, the days-to-cover ratio is presently 2.1 days.

Companhia Siderúrgica Nacional Stock Performance

Shares of NYSE:SID traded down $0.04 during midday trading on Wednesday, reaching $2.68. 2,478,299 shares of the company’s stock traded hands, compared to its average volume of 2,756,976. The company has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $3.24. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 1.89. Companhia Siderúrgica Nacional has a 1 year low of $2.11 and a 1 year high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SIDGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Companhia Siderúrgica Nacional had a return on equity of 3.15% and a net margin of 1.45%. The business had revenue of $2.42 billion for the quarter. As a group, research analysts forecast that Companhia Siderúrgica Nacional will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SID. Itau BBA Securities restated an “underperform” rating and issued a $3.00 price objective on shares of Companhia Siderúrgica Nacional in a research report on Thursday, April 4th. StockNews.com lowered Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Bank of America lowered Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $3.90 to $2.90 in a research report on Tuesday, April 9th.

Get Our Latest Research Report on SID

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Companhia Siderúrgica Nacional during the 3rd quarter worth $145,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Companhia Siderúrgica Nacional in the third quarter valued at approximately $43,000. Banque Cantonale Vaudoise boosted its stake in Companhia Siderúrgica Nacional by 50.0% in the third quarter. Banque Cantonale Vaudoise now owns 450,000 shares of the basic materials company’s stock valued at $1,076,000 after acquiring an additional 150,000 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Companhia Siderúrgica Nacional by 20.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 26,133 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 4,437 shares during the period. Finally, First Affirmative Financial Network acquired a new position in Companhia Siderúrgica Nacional in the fourth quarter valued at approximately $54,000.

Companhia Siderúrgica Nacional Company Profile

(Get Free Report)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free 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 consisting 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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