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

Steel Connect, Inc. (NASDAQ:STCNGet Rating) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 105,200 shares, a decrease of 16.2% from the April 15th total of 125,500 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 103,300 shares, the days-to-cover ratio is currently 1.0 days.

STCN stock opened at $1.19 on Tuesday. Steel Connect has a fifty-two week low of $0.92 and a fifty-two week high of $2.45. The business’s 50-day moving average is $1.26 and its two-hundred day moving average is $1.38. The company has a market cap of $71.95 million, a price-to-earnings ratio of -0.88 and a beta of 0.68.

Steel Connect (NASDAQ:STCNGet Rating) last posted its earnings results on Thursday, March 17th. The technology company reported ($0.39) earnings per share for the quarter. Steel Connect had a negative net margin of 15.19% and a negative return on equity of 266.60%. The firm had revenue of $120.64 million during the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Shufro Rose & Co. LLC bought a new position in shares of Steel Connect in the first quarter worth about $26,000. Wealthspire Advisors LLC purchased a new stake in shares of Steel Connect during the third quarter worth about $132,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Steel Connect during the fourth quarter worth about $149,000. Defender Capital LLC. grew its position in shares of Steel Connect by 28.3% during the fourth quarter. Defender Capital LLC. now owns 115,500 shares of the technology company’s stock worth $162,000 after purchasing an additional 25,500 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its position in shares of Steel Connect by 42.6% during the fourth quarter. Summit Trail Advisors LLC now owns 161,581 shares of the technology company’s stock worth $226,000 after purchasing an additional 48,285 shares in the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Steel Connect Company Profile (Get Rating)

Steel Connect, Inc, together with its subsidiaries, provides direct marketing and supply chain services in the United States, Mainland China, and internationally. The company provides data-driven marketing solutions, including strategy, data and analytics, response analysis, creative services, lithographic and digital printing, envelope printing and converting, component manufacturing, promotional cards, data processing and hygiene, content and asset management, personalization, lettershop and bindery, and postal optimization and omnichannel marketing campaigns, as well as provides business continuity and disaster recovery services.

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