Algoma Steel Group Inc. (NASDAQ:ASTL - Get Free Report) shares saw strong trading volume on Tuesday . 1,391,251 shares traded hands during mid-day trading, an increase of 131% from the previous session's volume of 601,811 shares.The stock last traded at $7.14 and had previously closed at $7.36.
Algoma Steel Group Stock Up 4.4 %
The stock's fifty day simple moving average is $8.47 and its 200-day simple moving average is $9.63. The stock has a market cap of $769.85 million, a P/E ratio of -5.78 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31.
Institutional Investors Weigh In On Algoma Steel Group
Several institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new position in Algoma Steel Group during the 4th quarter worth $1,955,000. Public Employees Retirement System of Ohio bought a new position in shares of Algoma Steel Group in the fourth quarter worth $462,000. Woodline Partners LP raised its stake in Algoma Steel Group by 59.2% in the fourth quarter. Woodline Partners LP now owns 2,844,439 shares of the company's stock valued at $27,819,000 after purchasing an additional 1,057,517 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Algoma Steel Group in the fourth quarter valued at about $114,000. Finally, Two Sigma Advisers LP acquired a new stake in Algoma Steel Group during the fourth quarter worth about $117,000. 72.00% of the stock is currently owned by institutional investors.
About Algoma Steel Group
(
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Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.
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