Wall Street Zen cut shares of Algoma Steel Group (NASDAQ:ASTL - Free Report) from a hold rating to a sell rating in a research note released on Saturday morning.
ASTL has been the topic of several other research reports. Royal Bank Of Canada raised Algoma Steel Group to a "hold" rating in a report on Tuesday, April 22nd. Stifel Canada lowered Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, BMO Capital Markets lowered Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, June 2nd.
Read Our Latest Stock Report on Algoma Steel Group
Algoma Steel Group Stock Down 3.3%
Shares of ASTL traded down $0.17 during midday trading on Friday, reaching $4.80. 502,477 shares of the stock were exchanged, compared to its average volume of 1,012,696. Algoma Steel Group has a 12-month low of $4.17 and a 12-month high of $12.14. The firm has a 50 day simple moving average of $6.32 and a 200-day simple moving average of $6.34. The company has a quick ratio of 0.98, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. The company has a market cap of $503.14 million, a price-to-earnings ratio of -2.15 and a beta of 1.62.
Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.29). Algoma Steel Group had a negative net margin of 13.51% and a negative return on equity of 22.24%. The company had revenue of $433.14 million during the quarter, compared to the consensus estimate of $577.67 million. Research analysts forecast that Algoma Steel Group will post -0.63 EPS for the current year.
Hedge Funds Weigh In On Algoma Steel Group
Several institutional investors have recently bought and sold shares of the business. Aquatic Capital Management LLC acquired a new position in Algoma Steel Group in the fourth quarter valued at about $64,000. EJF Capital LLC acquired a new stake in Algoma Steel Group during the first quarter worth approximately $60,000. Squarepoint Ops LLC acquired a new stake in Algoma Steel Group during the fourth quarter worth approximately $114,000. Two Sigma Advisers LP acquired a new stake in Algoma Steel Group during the fourth quarter worth approximately $117,000. Finally, Aigen Investment Management LP acquired a new stake in Algoma Steel Group during the first quarter worth approximately $69,000. Institutional investors own 72.00% of the company's stock.
Algoma Steel Group Company Profile
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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.
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