Algoma Steel Group Inc. (NASDAQ:ASTL – Get Rating) was the recipient of unusually large options trading activity on Thursday. Traders acquired 21,211 call options on the stock. This is an increase of 1,622% compared to the average volume of 1,232 call options.
Institutional Investors Weigh In On Algoma Steel Group
Several institutional investors have recently added to or reduced their stakes in the business. Prelude Capital Management LLC grew its position in shares of Algoma Steel Group by 12.7% in the 1st quarter. Prelude Capital Management LLC now owns 36,592 shares of the company’s stock valued at $296,000 after buying an additional 4,134 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Algoma Steel Group in the first quarter valued at approximately $163,000. Donald Smith & CO. Inc. lifted its stake in shares of Algoma Steel Group by 15.2% in the 1st quarter. Donald Smith & CO. Inc. now owns 7,294,665 shares of the company’s stock worth $58,941,000 after acquiring an additional 960,977 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Algoma Steel Group in the 1st quarter valued at approximately $808,000. Finally, Solas Capital Management LLC grew its holdings in Algoma Steel Group by 1.6% during the first quarter. Solas Capital Management LLC now owns 1,327,751 shares of the company’s stock worth $10,728,000 after acquiring an additional 21,329 shares during the period. Hedge funds and other institutional investors own 62.44% of the company’s stock.
Algoma Steel Group Stock Down 9.1 %
Shares of Algoma Steel Group stock opened at $6.96 on Friday. Algoma Steel Group has a 52-week low of $5.64 and a 52-week high of $9.94. The company has a 50 day moving average of $7.41 and a 200 day moving average of $7.35. The company has a quick ratio of 1.47, a current ratio of 3.67 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $720.85 million, a P/E ratio of 3.27 and a beta of 1.48.
Analyst Upgrades and Downgrades
About Algoma Steel Group
Algoma Steel Group Inc produces and sells steel products primarily in North America. It 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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