Algoma Steel Group (NASDAQ:ASTL) Hits New 12-Month Low – What’s Next?

Algoma Steel Group Inc. (NASDAQ:ASTL)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $6.45 and last traded at $6.54, with a volume of 1769119 shares trading hands. The stock had previously closed at $6.80.

Algoma Steel Group Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The stock has a 50-day moving average price of $8.35 and a 200-day moving average price of $9.60. The company has a market capitalization of $685.94 million, a price-to-earnings ratio of -5.15 and a beta of 1.46.

Institutional Investors Weigh In On Algoma Steel Group

Several hedge funds have recently added to or reduced their stakes in ASTL. Aquatic Capital Management LLC acquired a new position in shares of Algoma Steel Group in the fourth quarter valued at $64,000. Wexford Capital LP acquired a new position in Algoma Steel Group in the 3rd quarter valued at about $107,000. Squarepoint Ops LLC acquired a new position in Algoma Steel Group in the 4th quarter valued at about $114,000. Two Sigma Advisers LP bought a new position in Algoma Steel Group in the 4th quarter valued at about $117,000. Finally, Corient Private Wealth LLC acquired a new stake in Algoma Steel Group during the fourth quarter worth approximately $147,000. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Company Profile

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.