Is Buying Companhia Siderurgica Nacional S.A. (NYSE:SID), Having Higher Short Interest a Winning Strategy?

April 20, 2018 - By Marguerite Chambers

Companhia Siderúrgica Nacional (NYSE:SID) Logo

The stock of Companhia Siderurgica Nacional S.A. (NYSE:SID) registered an increase of 49.88% in short interest. SID’s total short interest was 10.99 million shares in April as published by FINRA. Its up 49.88% from 7.33M shares, reported previously. With 3.51 million shares average volume, it will take short sellers 3 days to cover their SID’s short positions. The short interest to Companhia Siderurgica Nacional S.A.’s float is 1.86%.

The stock decreased 1.04% or $0.03 during the last trading session, reaching $2.71. About 282,380 shares traded. Companhia Siderúrgica Nacional (NYSE:SID) has declined 22.43% since April 20, 2017 and is downtrending. It has underperformed by 33.98% the S&P500.

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil. The company has market cap of $3.88 billion. It operates through Steel, Mining, Logistics, Cement, and Energy divisions. It has a 1355.7 P/E ratio. It offers steel products, such as coated sheets, galvanized steel, pre-painted steel, metal sheets, and flat and long steel products for automotive, civil construction, packaging, appliances, OEM, and distribution markets.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.