Traders Purchase Large Volume of Companhia Siderúrgica Nacional Call Options (NYSE:SID)

Companhia Siderúrgica Nacional (NYSE:SID) was the target of some unusual options trading activity on Monday. Investors acquired 11,404 call options on the stock. This is an increase of approximately 4,220% compared to the typical volume of 264 call options.

Companhia Siderúrgica Nacional Stock Up 8.7 %

Shares of SID stock traded up $0.26 during midday trading on Monday, reaching $3.26. 3,125,165 shares of the stock were exchanged, compared to its average volume of 2,846,965. The firm has a market cap of $4.52 billion, a PE ratio of -109.33, a price-to-earnings-growth ratio of 2.06 and a beta of 1.84. The company’s 50 day moving average is $2.40 and its two-hundred day moving average is $2.55. Companhia Siderúrgica Nacional has a 1 year low of $2.11 and a 1 year high of $3.70. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 1.75.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of Companhia Siderúrgica Nacional from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America upgraded Companhia Siderúrgica Nacional from an “underperform” rating to a “buy” rating and set a $4.10 price objective for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Companhia Siderúrgica Nacional currently has an average rating of “Hold” and a consensus price target of $3.20.

Institutional Trading of Companhia Siderúrgica Nacional

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Companhia Siderúrgica Nacional by 34.4% during the 2nd quarter. BlackRock Inc. now owns 3,468,677 shares of the basic materials company’s stock valued at $8,984,000 after acquiring an additional 887,993 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Companhia Siderúrgica Nacional by 17.4% during the first quarter. Van ECK Associates Corp now owns 2,017,319 shares of the basic materials company’s stock valued at $6,193,000 after purchasing an additional 298,350 shares during the last quarter. State Street Corp boosted its position in shares of Companhia Siderúrgica Nacional by 2.5% in the 2nd quarter. State Street Corp now owns 1,529,158 shares of the basic materials company’s stock worth $4,149,000 after purchasing an additional 37,248 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Companhia Siderúrgica Nacional by 652.2% in the 1st quarter. Two Sigma Investments LP now owns 1,348,715 shares of the basic materials company’s stock worth $4,141,000 after buying an additional 1,169,415 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Companhia Siderúrgica Nacional by 865.4% during the fourth quarter. Jane Street Group LLC now owns 1,178,445 shares of the basic materials company’s stock valued at $3,253,000 after buying an additional 1,056,380 shares during the last quarter. Institutional investors own 2.38% of the company’s stock.

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.