Steel Connect, Inc. (NASDAQ:STCN) Short Interest Update

Steel Connect, Inc. (NASDAQ:STCN - Get Free Report) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 45,100 shares, an increase of 103.2% from the April 15th total of 22,200 shares. Based on an average trading volume of 11,600 shares, the short-interest ratio is currently 3.9 days. Approximately 0.2% of the company's stock are sold short.

Steel Connect Stock Performance

Shares of NASDAQ STCN traded up $0.05 during mid-day trading on Friday, reaching $12.55. 6,582 shares of the company traded hands, compared to its average volume of 22,127. The stock has a market cap of $78.94 million, a PE ratio of 12.63 and a beta of 0.23. The company's fifty day moving average is $10.22 and its two-hundred day moving average is $9.63. Steel Connect has a fifty-two week low of $7.09 and a fifty-two week high of $12.60.

Steel Connect (NASDAQ:STCN - Get Free Report) last issued its quarterly earnings results on Friday, March 15th. The technology company reported $0.18 earnings per share (EPS) for the quarter. Steel Connect had a return on equity of 39.04% and a net margin of 12.23%. The company had revenue of $43.05 million for the quarter.

Insider Buying and Selling

In other Steel Connect news, Director Steel Partners Holdings L.P. acquired 18,605 shares of Steel Connect stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average cost of $8.93 per share, with a total value of $166,142.65. Following the purchase, the director now owns 88,147 shares in the company, valued at $787,152.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders acquired 923,183 shares of company stock valued at $9,499,359. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Steel Connect

A number of institutional investors and hedge funds have recently bought and sold shares of STCN. Wealthspire Advisors LLC acquired a new position in Steel Connect in the 1st quarter valued at approximately $2,991,000. Steel Partners Holdings L.P. raised its holdings in Steel Connect by 0.9% in the 4th quarter. Steel Partners Holdings L.P. now owns 2,017,689 shares of the technology company's stock valued at $19,440,000 after acquiring an additional 18,261 shares in the last quarter. Gabelli Funds LLC raised its holdings in Steel Connect by 1.8% in the 3rd quarter. Gabelli Funds LLC now owns 328,945 shares of the technology company's stock valued at $3,454,000 after acquiring an additional 5,765 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Steel Connect by 2.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 149,094 shares of the technology company's stock valued at $1,565,000 after acquiring an additional 2,872 shares in the last quarter. Institutional investors own 47.28% of the company's stock.

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.