Steel Connect (NASDAQ:STCN) Stock Crosses Below Two Hundred Day Moving Average of $9.54

Steel Connect, Inc. (NASDAQ:STCN) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.54 and traded as low as $9.42. Steel Connect shares last traded at $9.50, with a volume of 8,435 shares trading hands.

Steel Connect Price Performance

The firm has a market capitalization of $59.76 million, a PE ratio of 9.56 and a beta of 0.32. The firm has a fifty day moving average price of $8.99 and a 200 day moving average price of $9.54.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STCN. Bank of America Corp DE raised its position in Steel Connect by 43.4% during the first quarter. Bank of America Corp DE now owns 243,500 shares of the technology company’s stock valued at $314,000 after buying an additional 73,671 shares during the period. Gamco Investors INC. ET AL increased its position in Steel Connect by 7.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,059,800 shares of the technology company’s stock worth $1,208,000 after purchasing an additional 72,000 shares during the last quarter. Gabelli Funds LLC increased its position in Steel Connect by 2.2% in the 1st quarter. Gabelli Funds LLC now owns 2,912,910 shares of the technology company’s stock worth $3,321,000 after purchasing an additional 63,761 shares during the last quarter. Prelude Capital Management LLC acquired a new position in Steel Connect in the 2nd quarter worth about $84,000. Finally, Millennium Management LLC acquired a new position in Steel Connect in the 4th quarter worth about $89,000. 47.28% of the stock is owned by institutional investors and hedge funds.

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.