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

Steel Connect, Inc. (NASDAQ:STCN) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 10,700 shares, a growth of 25.9% from the October 15th total of 8,500 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is currently 0.9 days.

Insider Buying and Selling at Steel Connect

In other Steel Connect news, Director Steel Partners Holdings L.P. purchased 439,673 shares of the company’s stock in a transaction that occurred on Sunday, September 1st. The shares were acquired at an average price of $12.00 per share, with a total value of $5,276,076.00. Following the transaction, the director now owns 1,552,839 shares in the company, valued at $18,634,068. The trade was a 39.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Steel Connect

A number of institutional investors and hedge funds have recently bought and sold shares of STCN. Gamco Investors INC. ET AL increased its stake in Steel Connect by 0.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 159,057 shares of the technology company’s stock valued at $1,509,000 after buying an additional 1,000 shares during the last quarter. Gabelli Funds LLC increased 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 acquiring an additional 4,719 shares during the last quarter. Finally, Steel Partners Holdings L.P. boosted its position in Steel Connect by 51.7% in the second 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 during the last quarter. 47.28% of the stock is owned by hedge funds and other institutional investors.

Steel Connect Stock Down 3.6 %

Shares of Steel Connect stock opened at $9.80 on Friday. The company has a market cap of $62.09 million, a PE ratio of 3.19 and a beta of 0.19. Steel Connect has a 52 week low of $7.36 and a 52 week high of $13.00. The business has a 50 day moving average price of $10.54 and a 200-day moving average price of $11.60.

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.