Steel Connect, Inc. (NASDAQ:STCN) Short Interest Down 47.3% in September

Steel Connect, Inc. (NASDAQ:STCN) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 8,800 shares, a decrease of 47.3% from the September 15th total of 16,700 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 14,000 shares, the short-interest ratio is currently 0.6 days.

Insider Activity

In related news, Director Steel Partners Holdings L.P. acquired 439,673 shares of the stock in a transaction dated Sunday, September 1st. The shares were acquired at an average price of $12.00 per share, with a total value of $5,276,076.00. Following the acquisition, the director now owns 1,552,839 shares in the company, valued at approximately $18,634,068. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Steel Connect

A number of hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its position in shares of Steel Connect by 0.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 159,057 shares of the technology company’s stock worth $1,509,000 after acquiring an additional 1,000 shares during the period. Gabelli Funds LLC lifted its position in shares of Steel Connect by 1.4% during the 1st quarter. Gabelli Funds LLC now owns 332,775 shares of the technology company’s stock worth $3,158,000 after buying an additional 4,719 shares during the period. Wealthspire Advisors LLC acquired a new stake in Steel Connect during the 1st quarter valued at $2,991,000. Finally, Steel Partners Holdings L.P. increased its stake in shares of Steel Connect by 51.7% in the 2nd quarter. Steel Partners Holdings L.P. now owns 3,061,313 shares of the technology company’s stock valued at $39,307,000 after buying an additional 1,043,624 shares during the period. Institutional investors own 47.28% of the company’s stock.

Steel Connect Trading Up 0.2 %

STCN traded up $0.02 during midday trading on Friday, reaching $10.05. The company’s stock had a trading volume of 2,659 shares, compared to its average volume of 11,710. The stock has a market cap of $63.32 million, a P/E ratio of 3.21 and a beta of 0.19. The company has a fifty day simple moving average of $11.25 and a 200 day simple moving average of $11.55. Steel Connect has a twelve month low of $7.36 and a twelve month high of $13.00.

Steel Connect Company Profile

Steel Connect, Inc, together with its subsidiaries, provides supply chain services in the United States, Mainland China, Netherlands, and internationally. It offers product configuration and packaging, kitting, and assembly of components and parts into finished goods; and value-added processes, such as product testing, radio frequency identification tagging, product or service activation, language settings, personalization and engraving, multi-channel packaging, and packaging design services.