Algoma Steel Group Inc. (NASDAQ:ASTLW) Sees Significant Drop in Short Interest

Algoma Steel Group Inc. (NASDAQ:ASTLW) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 2,500 shares, a decline of 84.1% from the December 31st total of 15,700 shares. Based on an average trading volume of 41,400 shares, the days-to-cover ratio is currently 0.1 days.

Algoma Steel Group Trading Down 1.2 %

Shares of NASDAQ ASTLW traded down $0.02 during midday trading on Thursday, hitting $1.29. The company’s stock had a trading volume of 3,300 shares, compared to its average volume of 35,863. The firm’s fifty day moving average price is $1.49 and its 200-day moving average price is $1.60. Algoma Steel Group has a 1-year low of $0.78 and a 1-year high of $2.40.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.