ASTL Stock Forecast: All the More Reason to Consider Algoma Steel Group Inc (ASTL) Now

Algoma Steel Group Inc (NASDAQ: ASTL) is -33.03% lower on its value in year-to-date trading and has touched a low of $4.17 and a high of $12.14 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ASTL stock was last observed hovering at around $6.15 in the last trading session, with the day’s gains setting it 0.4%.

Currently trading at $6.55, the stock is 16.05% and 21.91% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.72 million and changing 6.50% at the moment leaves the stock -19.64% off its SMA200. ASTL registered -9.41% loss for a year compared to 6-month loss of -35.15%.

The stock witnessed a 13.91% gain in the last 1 month and extending the period to 3 months gives it a 3.48%, and is 11.77% 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 3.98% over the week and 3.87% over the month.

Algoma Steel Group Inc (ASTL) has around 2818 employees, a market worth around $687.29M and $1.70B in sales. Profit margin for the company is -8.15%. Distance from 52-week low is 57.07% and -46.05% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.43%).

with sales reaching $591.25M over the same period., but quarterly earnings will post -4.30% year-over-year.

Algoma Steel Group Inc (ASTL) Top Institutional Holders

The shares outstanding are 104.93M, and float is at 90.32M with Short Float at 3.46%.

The top institutional shareholder in the company is DONALD SMITH & CO., INC. with over 8.85 million shares valued at $61.58 million. The investor’s holdings represent 10.3521% of the ASTL Shares outstanding. As of 2024-06-30, the second largest holder is MMCAP INTERNATIONAL INC. SPC with 8.19 million shares valued at $56.98 million to account for 9.5796 of the shares outstanding. The other top investors are MAPLE ROCK CAPITAL PARTNERS INC. which holds 6.09 million shares representing 7.1281% and valued at over $42.4 million, while THOMIST CAPITAL MANAGEMENT, LP holds 5.8241 of the shares totaling 4.98 million with a market value of $43.43 million.