Steel Connect (NASDAQ:STCN) Stock Passes Above Two Hundred Day Moving Average of $9.57

Steel Connect, Inc. (NASDAQ:STCN) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.57 and traded as high as $12.60. Steel Connect shares last traded at $12.46, with a volume of 7,522 shares trading hands.

Steel Connect Stock Up 0.7 %

The company’s 50-day moving average is $9.98 and its 200 day moving average is $9.57. The company has a market cap of $78.37 million, a price-to-earnings ratio of 12.54 and a beta of 0.23.

Steel Connect (NASDAQ:STCN) last posted its earnings results on Friday, March 15th. The technology company reported $0.18 EPS for the quarter. The firm had revenue of $43.05 million for the quarter. Steel Connect had a return on equity of 39.04% and a net margin of 12.23%.

Insider Transactions at Steel Connect

In other news, Director Steel Partners Holdings L.P. acquired 18,605 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $8.93 per share, for a total transaction of $166,142.65. Following the purchase, the director now owns 88,147 shares in the company, valued at $787,152.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 923,183 shares of company stock valued at $9,499,359 in the last three months. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Steel Connect

Several hedge funds and other institutional investors have recently modified their holdings of the business. Steel Partners Holdings L.P. grew its stake in Steel Connect by 0.9% during the 4th 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 in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of 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 worth $1,565,000 after purchasing an additional 2,872 shares during the last quarter. FORVIS Wealth Advisors LLC purchased a new stake in shares of Steel Connect in the third quarter valued at approximately $168,000. Gabelli Funds LLC increased its holdings in shares of Steel Connect by 1.8% in the third quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company’s stock valued at $3,454,000 after purchasing an additional 5,765 shares during the last quarter. Finally, Wealthspire Advisors LLC purchased a new position in Steel Connect during the first quarter worth approximately $2,991,000. 47.28% of the stock is owned by hedge funds and other 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.