Companhia Siderurgica Nacional (NYSE:SID) Short Interest Up 7.1% in December

Companhia Siderurgica Nacional (NYSE:SID) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 6,910,000 shares, an increase of 7.1% from the December 15th total of 6,450,000 shares. Based on an average trading volume of 3,340,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.5% of the shares of the stock are sold short.

Shares of NYSE SID traded up $0.02 during mid-day trading on Friday, reaching $3.50. The company had a trading volume of 41,110 shares, compared to its average volume of 3,468,137. Companhia Siderurgica Nacional has a twelve month low of $2.46 and a twelve month high of $4.71. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.58 and a current ratio of 1.06. The stock has a market capitalization of $4.81 billion, a PE ratio of 3.68 and a beta of 1.91. The stock’s 50 day moving average is $3.35 and its 200-day moving average is $3.47.

Companhia Siderurgica Nacional (NYSE:SID) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.14). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. Companhia Siderurgica Nacional had a return on equity of 23.93% and a net margin of 10.33%. On average, sell-side analysts anticipate that Companhia Siderurgica Nacional will post 0.35 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SID. Bank of America Corp DE lifted its position in Companhia Siderurgica Nacional by 487.3% during the second quarter. Bank of America Corp DE now owns 2,934,247 shares of the basic materials company’s stock valued at $12,647,000 after purchasing an additional 2,434,637 shares during the last quarter. Vanguard Group Inc. increased its position in Companhia Siderurgica Nacional by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,335,438 shares of the basic materials company’s stock valued at $35,926,000 after purchasing an additional 446,622 shares during the period. A.R.T. Advisors LLC increased its position in Companhia Siderurgica Nacional by 177.2% during the 2nd quarter. A.R.T. Advisors LLC now owns 543,265 shares of the basic materials company’s stock valued at $2,341,000 after purchasing an additional 347,300 shares during the period. Morgan Stanley increased its position in Companhia Siderurgica Nacional by 11.9% during the 2nd quarter. Morgan Stanley now owns 3,057,708 shares of the basic materials company’s stock valued at $13,179,000 after purchasing an additional 324,997 shares during the period. Finally, Barclays PLC increased its position in Companhia Siderurgica Nacional by 4,620.3% during the 3rd quarter. Barclays PLC now owns 310,926 shares of the basic materials company’s stock valued at $983,000 after purchasing an additional 304,339 shares during the period. Hedge funds and other institutional investors own 3.87% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Citigroup cut Companhia Siderurgica Nacional from a “neutral” rating to a “sell” rating in a report on Monday, December 16th. TheStreet downgraded Companhia Siderurgica Nacional from a “b-” rating to a “c” rating in a research report on Friday, October 25th. BTIG Research downgraded Companhia Siderurgica Nacional from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Finally, Zacks Investment Research downgraded Companhia Siderurgica Nacional from a “hold” rating to a “strong sell” rating and set a $3.75 price objective for the company. in a research report on Tuesday, December 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Companhia Siderurgica Nacional has a consensus rating of “Hold” and a consensus price target of $3.75.

Companhia Siderurgica Nacional Company Profile

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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