Short Interest in Companhia Siderúrgica Nacional (NYSE:SID) Increases By 56.9%

Companhia Siderúrgica Nacional (NYSE:SID) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 4,990,000 shares, a growth of 56.9% from the March 31st total of 3,180,000 shares. Based on an average daily trading volume, of 2,990,000 shares, the short-interest ratio is presently 1.7 days. Approximately 0.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Itau BBA Securities reissued an “underperform” rating and issued a $3.00 price objective on shares of Companhia Siderúrgica Nacional in a report on Thursday, April 4th. Bank of America downgraded shares of Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $3.90 to $2.90 in a research note on Tuesday, April 9th. Finally, StockNews.com cut shares of Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 3rd.

Companhia Siderúrgica Nacional Stock Up 2.2 %

SID traded up $0.06 during trading on Friday, reaching $2.77. 3,258,450 shares of the company were exchanged, compared to its average volume of 3,412,735. Companhia Siderúrgica Nacional has a 12-month low of $2.11 and a 12-month high of $4.03. The company’s 50-day moving average is $3.12 and its two-hundred day moving average is $3.18. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.94 and a current ratio of 1.32.

Companhia Siderúrgica Nacional (NYSE:SID) last announced its quarterly earnings results on Thursday, March 7th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Companhia Siderúrgica Nacional had a return on equity of 1.69% and a net margin of 0.76%. The firm had revenue of $2.42 billion during the quarter. On average, research analysts predict that Companhia Siderúrgica Nacional will post 0.12 EPS for the current fiscal year.

Institutional Trading of Companhia Siderúrgica Nacional

Several institutional investors and hedge funds have recently bought and sold shares of SID. Quadrant Capital Group LLC raised its holdings in shares of Companhia Siderúrgica Nacional by 28.2% in the 4th quarter. Quadrant Capital Group LLC now owns 13,305 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 2,930 shares in the last quarter. Lindbrook Capital LLC lifted its position in Companhia Siderúrgica Nacional by 42.7% during the fourth quarter. Lindbrook Capital LLC now owns 9,876 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 2,956 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Companhia Siderúrgica Nacional by 20.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 26,133 shares of the basic materials company’s stock worth $62,000 after buying an additional 4,437 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Companhia Siderúrgica Nacional by 35.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 40,364 shares of the basic materials company’s stock worth $159,000 after buying an additional 10,467 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Companhia Siderúrgica Nacional during the 4th quarter valued at $51,000.

About Companhia Siderúrgica Nacional

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.