Shares of Companhia Siderurgica Nacional (NYSE:SID) were down 7.8% on Wednesday . The stock traded as low as $2.25 and last traded at $2.25. Approximately 2,503,054 shares changed hands during trading, a decline of 17% from the average daily volume of 3,022,691 shares. The stock had previously closed at $2.44.

Several analysts have recently weighed in on SID shares. Bank of America started coverage on Companhia Siderurgica Nacional in a report on Thursday. They set a “buy” rating on the stock. Zacks Investment Research raised Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Thursday, July 19th. TheStreet raised Companhia Siderurgica Nacional from a “d+” rating to a “c” rating in a report on Friday, May 18th. Credit Suisse Group raised Companhia Siderurgica Nacional from a “neutral” rating to an “outperform” rating in a report on Monday, June 4th. Finally, ValuEngine lowered Companhia Siderurgica Nacional from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Companhia Siderurgica Nacional has an average rating of “Hold” and an average target price of $2.25.

The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 2.99.

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in Companhia Siderurgica Nacional by 1,548.5% in the 4th quarter. Millennium Management LLC now owns 679,026 shares of the basic materials company’s stock valued at $1,664,000 after buying an additional 637,835 shares in the last quarter. Citadel Advisors LLC boosted its stake in Companhia Siderurgica Nacional by 15.1% in the 1st quarter. Citadel Advisors LLC now owns 643,739 shares of the basic materials company’s stock valued at $1,693,000 after buying an additional 84,395 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in Companhia Siderurgica Nacional in the 1st quarter valued at $1,530,000. Barclays PLC boosted its stake in Companhia Siderurgica Nacional by 28.9% in the 1st quarter. Barclays PLC now owns 347,366 shares of the basic materials company’s stock valued at $914,000 after buying an additional 77,779 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Companhia Siderurgica Nacional in the 1st quarter valued at $422,000. 2.90% of the stock is currently owned by institutional investors and hedge funds.

About Companhia Siderurgica Nacional (NYSE:SID)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil. It operates through five segments: Steel, Mining, Logistics, Cement, and Energy. It produces a line of steel products, including slabs, hot and cold-rolled, galvanized, and tin mill products for the distribution, packaging, automotive, home appliance, and construction industries.

See Also: Earnings Per Share (EPS)

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