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

Steel Connect, Inc. (NASDAQ:STCN) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,400 shares, a drop of 68.2% from the October 31st total of 10,700 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 17,900 shares, the short-interest ratio is presently 0.2 days.

Insider Activity at Steel Connect

In related news, Director Steel Partners Holdings L.P. bought 439,673 shares of the firm’s stock in a transaction dated Sunday, September 1st. The stock was bought at an average price of $12.00 per share, with a total value of $5,276,076.00. Following the completion of the transaction, the director now directly owns 1,552,839 shares of the company’s stock, valued at approximately $18,634,068. This represents a 39.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Connect stock. Steel Partners Holdings L.P. grew its holdings in shares of Steel Connect, Inc. (NASDAQ:STCN) by 51.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,061,313 shares of the technology company’s stock after acquiring an additional 1,043,624 shares during the period. Steel Connect comprises about 50.1% of Steel Partners Holdings L.P.’s investment portfolio, making the stock its biggest holding. Steel Partners Holdings L.P. owned approximately 48.59% of Steel Connect worth $39,307,000 at the end of the most recent quarter. Institutional investors own 47.28% of the company’s stock.

Steel Connect Price Performance

NASDAQ STCN traded down $0.04 on Thursday, reaching $10.25. The company had a trading volume of 27,392 shares, compared to its average volume of 13,674. Steel Connect has a 1 year low of $7.36 and a 1 year high of $13.00. The firm has a 50-day moving average of $10.31 and a 200-day moving average of $11.42. The firm has a market capitalization of $64.99 million, a PE ratio of 3.34 and a beta of 0.19.

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.