Algoma Steel Group Inc. (NASDAQ:ASTL – Get Free Report) saw unusually large options trading activity on Tuesday. Traders bought 10,025 call options on the stock. This is an increase of 1,591% compared to the average daily volume of 593 call options.
Algoma Steel Group Stock Up 4.7 %
ASTL stock traded up $0.46 during trading hours on Tuesday, hitting $10.30. The company’s stock had a trading volume of 185,252 shares, compared to its average volume of 582,899. The company has a quick ratio of 2.15, a current ratio of 4.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.07 billion, a PE ratio of 33.48 and a beta of 1.50. Algoma Steel Group has a 12 month low of $6.34 and a 12 month high of $10.71. The stock has a 50 day moving average price of $9.54 and a two-hundred day moving average price of $8.35.
Algoma Steel Group (NASDAQ:ASTL – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $475.44 million during the quarter, compared to analysts’ expectations of $444.32 million. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. On average, equities research analysts expect that Algoma Steel Group will post -0.72 earnings per share for the current year.
Algoma Steel Group Announces Dividend
Hedge Funds Weigh In On Algoma Steel Group
Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new stake in Algoma Steel Group during the 4th quarter worth about $126,000. MMCAP International Inc. SPC acquired a new stake in Algoma Steel Group in the fourth quarter valued at $30,364,000. CastleKnight Management LP lifted its stake in shares of Algoma Steel Group by 123.0% during the 4th quarter. CastleKnight Management LP now owns 345,500 shares of the company’s stock worth $3,465,000 after buying an additional 190,600 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Algoma Steel Group in the 4th quarter worth about $114,000. Finally, Thomist Capital Management LP increased its holdings in Algoma Steel Group by 100.3% in the 1st quarter. Thomist Capital Management LP now owns 5,007,597 shares of the company’s stock valued at $42,514,000 after buying an additional 2,508,133 shares during the period. Institutional investors and hedge funds own 72.00% of the company’s stock.
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.
Read More
- Five stocks we like better than Algoma Steel Group
- What is a Dividend King?
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- Airline Stocks – Top Airline Stocks to Buy Now
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- Golden Cross Stocks: Pattern, Examples and Charts
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Receive News & Ratings for Algoma Steel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algoma Steel Group and related companies with MarketBeat.com's FREE daily email newsletter.