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

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

Steel Connect Stock Performance

NASDAQ:STCN opened at $10.03 on Friday. Steel Connect has a 52 week low of $7.36 and a 52 week high of $13.00. The firm’s fifty day moving average is $10.48 and its 200-day moving average is $11.56. The firm has a market cap of $63.59 million, a P/E ratio of 3.27 and a beta of 0.19.

Insider Buying and Selling

In other news, Director Steel Partners Holdings L.P. bought 439,673 shares of the firm’s stock in a transaction on Sunday, September 1st. The stock was 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 of the company’s stock, valued at $18,634,068. This trade represents a 39.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is owned by corporate insiders.

Institutional Trading of Steel Connect

Institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL raised its position in shares of 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 worth $1,509,000 after acquiring an additional 1,000 shares in the last quarter. Gabelli Funds LLC increased its holdings in Steel Connect by 1.4% in the first quarter. Gabelli Funds LLC now owns 332,775 shares of the technology company’s stock worth $3,158,000 after purchasing an additional 4,719 shares in the last quarter. Finally, Steel Partners Holdings L.P. increased its holdings 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 in the last quarter. Institutional investors own 47.28% of the company’s stock.

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.