Short Interest in Steel Connect, Inc. (NASDAQ:STCN) Expands By 41.2%

Steel Connect, Inc. (NASDAQ:STCN) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 4,800 shares, an increase of 41.2% from the November 15th total of 3,400 shares. Based on an average daily volume of 21,000 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Steel Connect

A hedge fund recently bought a new stake in Steel Connect stock. Oddo BHF Asset Management Sas purchased a new stake in shares of Steel Connect, Inc. (NASDAQ:STCN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 138,902 shares of the technology company’s stock, valued at approximately $1,465,000. Oddo BHF Asset Management Sas owned 2.19% of Steel Connect as of its most recent SEC filing. Institutional investors and hedge funds own 47.28% of the company’s stock.

Steel Connect Stock Performance

Shares of NASDAQ:STCN traded up $0.03 during midday trading on Friday, reaching $12.38. 8,859 shares of the company’s stock traded hands, compared to its average volume of 14,171. Steel Connect has a one year low of $7.36 and a one year high of $13.00. The company has a market cap of $78.49 million, a price-to-earnings ratio of 4.03 and a beta of 0.25. The stock has a 50 day moving average of $10.63 and a 200 day moving average of $11.44.

Steel Connect (NASDAQ:STCN) last posted its earnings results on Thursday, December 12th. The technology company reported $0.07 earnings per share (EPS) for the quarter. Steel Connect had a net margin of 50.53% and a return on equity of 14.59%.

About Steel Connect

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.