Steel Connect (NASDAQ:STCN) Stock Price Crosses Below 200-Day Moving Average of $9.55

Steel Connect, Inc. (NASDAQ:STCN)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.55 and traded as low as $8.66. Steel Connect shares last traded at $8.66, with a volume of 2,338 shares.

Steel Connect Stock Down 4.2 %

The stock has a market capitalization of $54.30 million, a PE ratio of 8.72 and a beta of 0.32. The firm has a 50 day moving average price of $9.00 and a 200 day moving average price of $9.55.

Insider Transactions at Steel Connect

In related news, Director Steel Partners Holdings L.P. acquired 6,315 shares of the stock in a transaction dated Wednesday, December 27th. The stock was purchased at an average cost of $9.30 per share, with a total value of $58,729.50. Following the completion of the purchase, the director now directly owns 67,033 shares in the company, valued at approximately $623,406.90. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Steel Connect

Institutional investors and hedge funds have recently bought and sold shares of the company. FORVIS Wealth Advisors LLC purchased a new stake in shares of Steel Connect in the third quarter worth $168,000. Gamco Investors INC. ET AL boosted its position in Steel Connect by 2.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 149,094 shares of the technology company’s stock valued at $1,565,000 after acquiring an additional 2,872 shares in the last quarter. Gabelli Funds LLC boosted its position in Steel Connect by 1.8% during the 3rd quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company’s stock valued at $3,454,000 after acquiring an additional 5,765 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Steel Connect during the 1st quarter valued at approximately $33,000. Finally, Millennium Management LLC bought a new stake in Steel Connect during the 4th quarter valued at approximately $89,000. 46.21% of the stock is owned by 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.