Sunday, June 26, 2022

Investing in Companhia Siderurgica Nacional [SID]: What You Must Know

Goldman upgraded its Companhia Siderurgica Nacional [SID] rating to a Buy from a a Neutral in a research note published on Tuesday. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in early September from “a Neutral” to “a Sell”. JP Morgan also remained covering SID and has increased its forecast on August 10, 2020 with a “Neutral” recommendation from previously “an Underweight” rating. JP Morgan revised its rating on June 22, 2020. It rated SID as “an Underweight” which previously was an “a Neutral”.


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Price Performance Review of SID

On Tuesday, Companhia Siderurgica Nacional [NYSE:SID] saw its stock fall -0.62% to $3.20. On the same session, the stock had its day’s lowest price of $3.18, but rose to a high of $3.29. Over the last five days, the stock has lost -10.36%. Companhia Siderurgica Nacional shares have fallen nearly -27.22% since the year began. Nevertheless, the stocks have fallen -61.44% over the past one year. While a 52-week high of $9.49 was reached on 03/07/22, a 52-week low of $3.14 was recorded on 06/17/22. SMA at 50 days reached $4.25, while 200 days put it at $4.69. A total of 6.39 million shares were traded, compared to the trading of 5.11 million shares in the previous session.

Levels Of Support And Resistance For SID Stock

The 24-hour chart illustrates a support level at 3.16, which if violated will result in even more drops to 3.11. On the upside, there is a resistance level at 3.27. A further resistance level may holdings at 3.33. The Relative Strength Index (RSI) on the 14-day chart is 29.62, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.70, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.44%. Stochastics %K at 4.35% indicates the stock is a buying.

How much short interest is there in Companhia Siderurgica Nacional?

A steep rise in short interest was recorded in Companhia Siderurgica Nacional stocks on Apr 28, 2022, dropping by -0.56 million shares to a total of 7.07 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 7.63 million shares. There was a decline of -7.92%, which implies that there is a negative sentiment for the stock.

Companhia Siderurgica Nacional [SID] – Who Are The Largest Shareholders?

At present, Jane Street Capital LLC is holding 1,486,783 shares valued at $6.72 million. Van Eck Associates Corp. owned 1,322,085 shares of the company at the time of its most recent 13F filing, worth $5.98 million.

According to FactSet, Companhia Siderurgica Nacional’s share price will average $6.43 in the next year, based on opinions of analysts polled by the firm. This is up nearly 90.68 percent from its previous closing price of $3.22. Analysts expect Companhia Siderurgica Nacional stock to reach the higher price of $10.04, while the lowest price estimate is $4.49. However, 11 analysts have rated SID stock as an Overweight in their predictions for 2022.

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