Steel Connect (NASDAQ:STCN) Shares Cross Below Two Hundred Day Moving Average of $11.30

Shares of Steel Connect, Inc. (NASDAQ:STCN) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.30 and traded as low as $10.93. Steel Connect shares last traded at $11.45, with a volume of 19,549 shares.

Steel Connect Price Performance

The firm has a fifty day simple moving average of $12.16 and a 200-day simple moving average of $11.30. The firm has a market cap of $72.14 million, a P/E ratio of 3.66 and a beta of 0.19.

Insider Buying and Selling

In other Steel Connect news, Director Steel Partners Holdings L.P. purchased 439,673 shares of the firm’s stock in a transaction on Sunday, September 1st. The stock was acquired at an average price of $12.00 per share, for a total transaction of $5,276,076.00. Following the purchase, the director now owns 1,552,839 shares of the company’s stock, valued at approximately $18,634,068. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Steel Connect

A number of institutional investors and hedge funds have recently made changes to their positions in STCN. Steel Partners Holdings L.P. increased its holdings in Steel Connect by 51.7% during the 2nd quarter. Steel Partners Holdings L.P. now owns 3,061,313 shares of the technology company’s stock worth $39,307,000 after purchasing an additional 1,043,624 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Steel Connect by 1.4% during the first quarter. Gabelli Funds LLC now owns 332,775 shares of the technology company’s stock valued at $3,158,000 after buying an additional 4,719 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Steel Connect by 0.6% during the first quarter. Gamco Investors INC. ET AL now owns 159,057 shares of the technology company’s stock worth $1,509,000 after buying an additional 1,000 shares in the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in Steel Connect in the 1st quarter valued at $2,991,000. Institutional investors and hedge funds 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.