Steel Connect, Inc. (NASDAQ:STCN – Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 22,200 shares, an increase of 208.3% from the March 31st total of 7,200 shares. Based on an average trading volume of 9,600 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.1% of the shares of the stock are sold short.
Steel Connect Trading Up 0.3 %
Shares of NASDAQ STCN opened at $12.13 on Friday. The stock has a market cap of $76.27 million, a price-to-earnings ratio of 12.20 and a beta of 0.33. Steel Connect has a 1-year low of $6.35 and a 1-year high of $12.48. The stock’s 50-day moving average is $9.39 and its 200 day moving average is $9.47.
Steel Connect (NASDAQ:STCN – Get Free Report) last announced its quarterly earnings data on Friday, March 15th. The technology company reported $0.18 earnings per share for the quarter. The company had revenue of $43.05 million for the quarter. Steel Connect had a return on equity of 39.04% and a net margin of 12.23%.
Insider Activity
Hedge Funds Weigh In On Steel Connect
A number of large investors have recently modified their holdings of the company. Steel Partners Holdings L.P. increased its stake in Steel Connect by 0.9% in the 4th quarter. Steel Partners Holdings L.P. now owns 2,017,689 shares of the technology company’s stock worth $19,440,000 after purchasing an additional 18,261 shares during the period. FORVIS Wealth Advisors LLC purchased a new position in Steel Connect in the 3rd quarter worth approximately $168,000. Gabelli Funds LLC increased its stake in Steel Connect by 1.8% in the 3rd quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company’s stock worth $3,454,000 after purchasing an additional 5,765 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in Steel Connect by 2.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 149,094 shares of the technology company’s stock worth $1,565,000 after purchasing an additional 2,872 shares during the period. 47.28% of the stock is owned by hedge funds and other institutional investors.
About Steel Connect
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.
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