Algoma Steel Group Inc (NASDAQ: ASTL) is -32.11% 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 $6.77 in the last trading session, with the day’s loss setting it -0.76%.
Currently trading at $6.01, the stock is -12.38% and -4.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.75 million and changing -11.15% at the moment leaves the stock -22.09% off its SMA200. ASTL registered -38.50% loss for a year compared to 6-month loss of -29.24%. The firm has a 50-day simple moving average (SMA 50) of $6.2851 and a 200-day simple moving average (SMA200) of $7.72.
The stock witnessed a -12.70% gain in the last 1 month and extending the period to 3 months gives it a 22.01%, and is -12.83% down 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 5.87% over the week and 4.59% over the month.
Algoma Steel Group Inc (ASTL) has around 2818 employees, a market worth around $631.15M and $1.70B in sales. Profit margin for the company is -8.15%. Distance from 52-week low is 44.24% and -50.45% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.43%).
173.0 institutions hold shares in Algoma Steel Group Inc (ASTL), with institutional investors hold 87.35% of the company’s shares. The shares outstanding are 104.93M, and float is at 90.32M with Short Float at 4.56%. Institutions hold 75.93% of the Float.
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.
