Steel Partners (NYSE:SPLP) Shares Gap Down - Here's Why

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $39.97, but opened at $38.25. Steel Partners shares last traded at $38.25, with a volume of 594 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Steel Partners in a research report on Thursday. They issued a "strong-buy" rating for the company.

Steel Partners Trading Down 3.7 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The company has a 50 day moving average of $40.38 and a two-hundred day moving average of $38.50. The stock has a market capitalization of $784.93 million, a PE ratio of 4.17 and a beta of 1.36.

Steel Partners (NYSE:SPLP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%. The business had revenue of $533.16 million for the quarter.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. raised its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the conglomerate's stock after acquiring an additional 2,300 shares during the quarter. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. 50.75% of the stock is currently owned by institutional investors.

Steel Partners Company Profile

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.