Shares of Companhia Siderúrgica Nacional (NYSE:SID – Get Free Report) rose 8.3% on Monday . The company traded as high as $3.26 and last traded at $3.25. Approximately 1,147,908 shares changed hands during trading, a decline of 60% from the average daily volume of 2,835,991 shares. The stock had previously closed at $3.00.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on SID shares. StockNews.com raised shares of Companhia Siderúrgica Nacional from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America raised shares of Companhia Siderúrgica Nacional from an “underperform” rating to a “buy” rating and set a $4.10 price target on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Companhia Siderúrgica Nacional currently has an average rating of “Hold” and a consensus price target of $3.20.
Companhia Siderúrgica Nacional Price Performance
Hedge Funds Weigh In On Companhia Siderúrgica Nacional
A number of hedge funds have recently modified their holdings of the company. Inspire Investing LLC bought a new stake in shares of Companhia Siderúrgica Nacional in the second quarter worth about $28,000. Inspire Advisors LLC raised its holdings in shares of Companhia Siderúrgica Nacional by 50.1% during the second quarter. Inspire Advisors LLC now owns 35,432 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 11,822 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in Companhia Siderúrgica Nacional in the second quarter valued at $56,000. Pinnacle Wealth Planning Services Inc. bought a new position in Companhia Siderúrgica Nacional in the 3rd quarter worth $43,000. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Companhia Siderúrgica Nacional by 2,538.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 213,700 shares of the basic materials company’s stock valued at $553,000 after purchasing an additional 205,600 shares in the last quarter. Hedge funds and other institutional investors own 2.38% of the company’s stock.
Companhia Siderúrgica Nacional Company Profile
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.
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