Steel Connect, Inc. (NASDAQ:STCN) Short Interest Up 41.2% in November

Posted by Doug Wharley on Dec 14th, 2024

Steel Connect, Inc. (NASDAQ:STCN – Get Free Report) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,800 shares, an increase of 41.2% from the November 15th total of 3,400 shares. Based on an average daily trading volume, of 21,000 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Steel Connect

An institutional investor recently bought a new position in Steel Connect stock. Oddo BHF Asset Management Sas bought a new position in Steel Connect, Inc. (NASDAQ:STCN – Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 138,902 shares of the technology company’s stock, valued at approximately $1,465,000. Oddo BHF Asset Management Sas owned about 2.19% of Steel Connect as of its most recent SEC filing. 47.28% of the stock is owned by hedge funds and other institutional investors.

Steel Connect Trading Up 0.2 %

Steel Connect stock traded up $0.03 during trading on Friday, hitting $12.38. 8,859 shares of the company were exchanged, compared to its average volume of 14,171. The company has a market capitalization of $78.49 million, a P/E ratio of 4.03 and a beta of 0.25. The business’s 50 day moving average is $10.63 and its 200 day moving average is $11.44. Steel Connect has a 52 week low of $7.36 and a 52 week high of $13.00.

Steel Connect (NASDAQ:STCN – Get Free Report) last posted its earnings results on Thursday, December 12th. The technology company reported $0.07 earnings per share (EPS) for the quarter. Steel Connect had a net margin of 50.53% and a return on equity of 14.59%.

Steel Connect Company Profile

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Steel Connect, Inc, together with its subsidiaries, provides supply chain services in the United States, Mainland China, Netherlands, and internationally. It offers product configuration and packaging, kitting, and assembly of components and parts into finished goods; and value-added processes, such as product testing, radio frequency identification tagging, product or service activation, language settings, personalization and engraving, multi-channel packaging, and packaging design services.