Steel Connect Inc. (NASDAQ: STCN) is 164.29% higher on its value in year-to-date trading and has touched a low of $0.40 and a high of $2.90 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The STCN stock was last observed hovering at around $1.98 in the last trading session, with the day’s gains setting it 0.1% off its average median price target of $22.50 for the next 12 months. It is also 90.76% off the consensus price target high of $22.50 offered by 1 analysts, but current levels are 90.76% higher than the price target low of $22.50 for the same period.
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Currently trading at $2.08, the stock is 8.45% and 10.13% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.8 million and changing 5.05% at the moment leaves the stock 96.87% off its SMA200. STCN registered 198.85% gain for a year compared to 6-month gain of 245.23%. The firm has a 50-day simple moving average (SMA 50) of $1.8558 and a 200-day simple moving average (SMA200) of $1.1847.
The stock witnessed a 12.43% loss in the last 1 month and extending the period to 3 months gives it a 39.60%, and is 16.20% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.33% over the week and 6.92% over the month.
Steel Connect Inc. (STCN) has around 3481 employees, a market worth around $131.00M and $668.20M in sales. Profit margin for the company is -2.20%. Distance from 52-week low is 417.41% and -28.28% from its 52-week high. The company has generated returns on investments over the last 12 months (6.40%).
Steel Connect Inc. (STCN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Steel Connect Inc. (STCN) is a “Buy”. 1 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Steel Connect Inc. is expected to release its quarterly report on 06/09/2021 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 89.30% this year.
Steel Connect Inc. (STCN) Top Institutional Holders
32 institutions hold shares in Steel Connect Inc. (STCN), with 7.22M shares held by insiders accounting for 11.53% while institutional investors hold 52.50% of the company’s shares. The shares outstanding are 62.03M, and float is at 55.53M with Short Float at 1.07%. Institutions hold 46.45% of the Float.
The top institutional shareholder in the company is Steel Partners Holdings, LP with over 18.18 million shares valued at $14.31 million. The investor’s holdings represent 28.86% of the STCN Shares outstanding. As of Dec 30, 2020, the second largest holder is Renaissance Technologies, LLC with 2.73 million shares valued at $2.15 million to account for 4.33% of the shares outstanding. The other top investors are Gabelli Funds, LLC which holds 1.82 million shares representing 2.89% and valued at over $1.43 million, while Gamco Investors Inc holds 2.39% of the shares totaling 1.51 million with a market value of $1.18 million.
Steel Connect Inc. (STCN) Insider Activity
A total of 13 insider transactions have happened at Steel Connect Inc. (STCN) in the last six months, with sales accounting for 0 and purchases happening 13 times.