Algoma Steel Group (NASDAQ:ASTL) Downgraded by Stifel Canada to “Hold”

Algoma Steel Group (NASDAQ:ASTL) was downgraded by analysts at Stifel Canada from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Algoma Steel Group Trading Up 1.9 %

NASDAQ ASTL opened at $4.80 on Thursday. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group has a 52 week low of $4.17 and a 52 week high of $12.14. The business has a 50 day moving average price of $6.19 and a 200-day moving average price of $8.54. The company has a market cap of $503.68 million, a price-to-earnings ratio of -3.78 and a beta of 1.57.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Aquatic Capital Management LLC acquired a new stake in shares of Algoma Steel Group in the 4th quarter worth about $64,000. Squarepoint Ops LLC bought a new stake in Algoma Steel Group during the 4th quarter worth approximately $114,000. Two Sigma Advisers LP purchased a new stake in shares of Algoma Steel Group in the fourth quarter worth approximately $117,000. Corient Private Wealth LLC purchased a new stake in shares of Algoma Steel Group in the fourth quarter worth approximately $147,000. Finally, Jump Financial LLC bought a new position in shares of Algoma Steel Group in the fourth quarter valued at approximately $204,000. 72.00% of the stock is owned by institutional investors.

About Algoma Steel Group

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.