Companhia Siderúrgica Nacional Target of Unusually High Options Trading (NYSE:SID)

Companhia Siderúrgica Nacional (NYSE:SID) was the target of unusually large options trading activity on Friday. Traders purchased 3,883 call options on the stock. This represents an increase of approximately 1,933% compared to the average volume of 191 call options.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

A number of institutional investors have recently made changes to their positions in SID. Advisor Group Holdings Inc. grew its position in Companhia Siderúrgica Nacional by 724.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,828 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 6,000 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Companhia Siderúrgica Nacional by 70.0% in the first quarter. American Century Companies Inc. now owns 280,992 shares of the basic materials company’s stock worth $1,523,000 after buying an additional 115,705 shares during the last quarter. Citigroup Inc. raised its stake in Companhia Siderúrgica Nacional by 8,001.1% during the 1st quarter. Citigroup Inc. now owns 145,901 shares of the basic materials company’s stock worth $791,000 after acquiring an additional 144,100 shares during the period. BlackRock Inc. raised its stake in Companhia Siderúrgica Nacional by 3.6% during the 1st quarter. BlackRock Inc. now owns 1,403,292 shares of the basic materials company’s stock worth $7,606,000 after acquiring an additional 48,163 shares during the period. Finally, Sei Investments Co. raised its stake in Companhia Siderúrgica Nacional by 31.8% during the 1st quarter. Sei Investments Co. now owns 13,378 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 3,224 shares during the period.

Companhia Siderúrgica Nacional Stock Performance

Shares of NYSE SID remained flat at $2.72 during midday trading on Friday. 494,008 shares of the stock traded hands, compared to its average volume of 2,817,597. The company’s 50 day simple moving average is $3.22 and its two-hundred day simple moving average is $3.16. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 1.89. Companhia Siderúrgica Nacional has a one year low of $2.11 and a one year high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its earnings results on Thursday, March 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $2.42 billion for the quarter. Companhia Siderúrgica Nacional had a return on equity of 1.69% and a net margin of 0.76%. Sell-side analysts predict that Companhia Siderúrgica Nacional will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

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

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.