Short Interest in Companhia Siderúrgica Nacional (NYSE:SID) Expands By 54.8%

Companhia Siderúrgica Nacional (NYSE:SID) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 9,010,000 shares, an increase of 54.8% from the October 31st total of 5,820,000 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 2,150,000 shares, the days-to-cover ratio is presently 4.2 days.

Companhia Siderúrgica Nacional Trading Down 1.6 %

Shares of SID stock traded down $0.03 on Friday, hitting $1.87. The stock had a trading volume of 1,674,761 shares, compared to its average volume of 2,224,528. Companhia Siderúrgica Nacional has a 1 year low of $1.82 and a 1 year high of $4.03. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.29 and a quick ratio of 0.89. The company’s 50 day moving average price is $2.11 and its 200-day moving average price is $2.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in shares of Companhia Siderúrgica Nacional by 51.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock valued at $4,435,000 after purchasing an additional 656,983 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Companhia Siderúrgica Nacional by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock valued at $4,248,000 after purchasing an additional 236,340 shares during the last quarter. Van ECK Associates Corp raised its stake in Companhia Siderúrgica Nacional by 17.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock valued at $4,236,000 after acquiring an additional 271,176 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at approximately $3,824,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at approximately $3,585,000.

Analysts Set New Price Targets

Separately, StockNews.com cut Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th.

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.