Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down – Here’s What Happened

Companhia Siderúrgica Nacional (NYSE:SID) shares gapped down prior to trading on Wednesday . The stock had previously closed at $1.47, but opened at $1.43. Companhia Siderúrgica Nacional shares last traded at $1.47, with a volume of 119,948 shares traded.

Analyst Ratings Changes

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

Companhia Siderúrgica Nacional Price Performance

The stock’s 50-day simple moving average is $1.48 and its two-hundred day simple moving average is $1.82. The firm has a market cap of $1.93 billion, a P/E ratio of -9.63 and a beta of 2.16. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.34 and a quick ratio of 0.93.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SID. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Companhia Siderúrgica Nacional during the third quarter worth $3,824,000. Northern Trust Corp grew its holdings in shares of Companhia Siderúrgica Nacional by 2,160.7% in the fourth quarter. Northern Trust Corp now owns 1,584,832 shares of the basic materials company’s stock worth $2,282,000 after purchasing an additional 1,514,727 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Companhia Siderúrgica Nacional in the 3rd quarter worth about $3,585,000. JPMorgan Chase & Co. lifted its holdings in Companhia Siderúrgica Nacional by 48,194.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company’s stock valued at $1,056,000 after buying an additional 440,983 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Companhia Siderúrgica Nacional by 70.7% in the 4th quarter. BNP Paribas Financial Markets now owns 1,053,204 shares of the basic materials company’s stock valued at $1,517,000 after buying an additional 436,157 shares during the period.

About Companhia Siderúrgica Nacional

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.