Algoma Steel Group Inc (ASTL) saw an uptrend of 1.65% in the recent trading with $8.63 being its most recent. The current price level -15.80% lower than the highest price of $10.25 marked by the stock while trading over the past 52-weeks, whereas it is 36.01% higher than the lowest price of $6.34 the company dropped to over past 52-weeks. The latest news story on ASTL appeared in (GlobeNewswire) under the title “Algoma Steel Inc. Announces Pricing of US$350 Million 9.125% Senior Secured Second Lien Notes due 2029”.
Squeezing the time span to 30 day period shows us the stock is currently trading -2.38% below one month high and is +14.53% above of the lowest during that time. Looking into the simple moving average, Algoma Steel Group Inc (ASTL)’s stock stands at a SMA-50 of $8.21 while that of 5-day is reading $8.42.
Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and ASTL’s SMA-200 as of now is $7.76.
Algoma Steel Group Inc Earnings – What Happened With ASTL
Coming around sales and income figures on ASTL Stock Income Statement, public trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor. Algoma Steel Group Inc (ASTL) last released financial results for the quarter that ended 12/30/2023, posting a surprise factor of -239.10% for net revenue.
ASTL – Algoma Steel Group Inc Stock Earnings Estimates
The perspective of Algoma Steel Group Inc (NASDAQ:ASTL)’s current quarter earnings identifies that analysts are in consensus over the estimate of -0.23 for stock’s EPS in the current quarter. 2 analysts covering the stock at Wall Street were agreed upon that EPS consensus. Company’s EPS for the last quarter was -0.78.
Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 103.57 million. ASTL does have institutional investors; and they hold 75.22% of the stock.
Algoma Steel Group Inc – Insider Activity and Holdings
As on Dec 30, 2023, Smith (Donald) & Company Inc. was the top most holder in Algoma Steel Group Inc (NASDAQ:ASTL) with an ownership of 9.62 million shares of the company or 9.24% of the stake worth $83.05 million. The filing also reveals Maple Rock Capital Partners, Inc. as the second largest holder in the company with a control over 5.85% of the outstanding shares. Its stake is worth $52.57 million for having 6.09 million shares in hand.
Weiss Multi-Strategy Advisers, LLC also came holding a key position in the company during the recent quarter and it now holds 4.35% of the outstanding shares. With this there are now 160 institutions which have possession in ASTL’s shares.
The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, Algoma Steel Group Inc has a debt to equity ratio of 0.10.
Technical Analysis of Algoma Steel Group Inc (NASDAQ:ASTL) stock
To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Algoma Steel Group Inc (ASTL), we notice that the stock’s 20-day average volume is at 622,705 shares. Medium term indicators at an average of 50% are spotting the stock at Buy with its 50-day average volume of 637,972 shares. And to end, ASTL’s 100-day average volume is 655,690 shares with 100% of the long-term indicators pointing towards Buy for the stock.
