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

Companhia Siderúrgica Nacional (NYSE:SID)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $1.47, but opened at $1.43. Companhia Siderúrgica Nacional shares last traded at $1.45, with a volume of 387,697 shares traded.

Wall Street Analysts Forecast Growth

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

Companhia Siderúrgica Nacional Stock Performance

The business’s 50 day simple moving average is $1.91 and its two-hundred day simple moving average is $2.11. The firm has a market capitalization of $1.98 billion, a PE ratio of -47.65 and a beta of 2.12. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77.

Companhia Siderúrgica Nacional Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 29th were given a dividend of $0.0952 per share. The ex-dividend date of this dividend was Friday, November 29th. Companhia Siderúrgica Nacional’s dividend payout ratio (DPR) is presently -146.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SID. Inspire Investing LLC purchased a new stake in shares of Companhia Siderúrgica Nacional during the 2nd quarter valued at about $27,000. Sivia Capital Partners LLC purchased a new stake in Companhia Siderúrgica Nacional during the third quarter valued at approximately $30,000. Vanguard Personalized Indexing Management LLC bought a new position in Companhia Siderúrgica Nacional in the second quarter worth approximately $28,000. PDS Planning Inc bought a new position in Companhia Siderúrgica Nacional in the third quarter worth approximately $32,000. Finally, Headlands Technologies LLC purchased a new position in shares of Companhia Siderúrgica Nacional during the 2nd quarter worth $52,000.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel 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.