Steel Connect, Inc. (NASDAQ:STCN) Short Interest Update

Steel Connect, Inc. (NASDAQ:STCN) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 47,400 shares, an increase of 24.4% from the May 31st total of 38,100 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is currently 3.2 days.

Steel Connect Price Performance

Shares of NASDAQ STCN opened at $12.87 on Monday. The company has a market cap of $81.15 million, a PE ratio of 4.10 and a beta of 0.18. The company has a 50-day simple moving average of $12.06 and a 200-day simple moving average of $10.24. Steel Connect has a 12 month low of $7.36 and a 12 month high of $13.00.

Steel Connect (NASDAQ:STCN) last posted its quarterly earnings data on Thursday, June 6th. The technology company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $43.86 million for the quarter. Steel Connect had a return on equity of 19.76% and a net margin of 53.00%.

Insider Transactions at Steel Connect

In other Steel Connect news, Director Steel Partners Holdings L.P. acquired 13,908 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were purchased at an average cost of $11.66 per share, with a total value of $162,167.28. Following the purchase, the director now owns 1,101,088 shares in the company, valued at $12,838,686.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 946,159 shares of company stock valued at $9,762,857 in the last ninety days. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Steel Connect

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STCN. Gamco Investors INC. ET AL boosted its holdings in shares of Steel Connect by 0.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 159,057 shares of the technology company’s stock valued at $1,509,000 after purchasing an additional 1,000 shares during the last quarter. Wealthspire Advisors LLC purchased a new position in shares of Steel Connect in the 1st quarter worth $2,991,000. Gabelli Funds LLC boosted its holdings in Steel Connect by 1.4% in the first quarter. Gabelli Funds LLC now owns 332,775 shares of the technology company’s stock valued at $3,158,000 after acquiring an additional 4,719 shares during the last quarter. Finally, Steel Partners Holdings L.P. grew its position in Steel Connect by 0.9% during the fourth quarter. Steel Partners Holdings L.P. now owns 2,017,689 shares of the technology company’s stock valued at $19,440,000 after acquiring an additional 18,261 shares during the period. Hedge funds and other institutional investors own 47.28% of the company’s stock.

Steel Connect Company Profile

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.