Steel Partners Holdings L.P. (NYSE:SPLP) Sees Large Growth in Short Interest

Key Points

• Steel Partners Holdings L.P. experienced a significant increase in short interest, skyrocketing by 700.0% in September, reaching a total of 800 shares by the end of the month.
• An institutional investor, Axxcess Wealth Management LLC, acquired a new position in Steel Partners, purchasing 8,051 shares valued at approximately $330,000.
• As of Friday, Steel Partners shares traded at $41.40, with a market cap of $827.96 million and a P/E ratio of 4.25.

Steel Partners Holdings L.P. (NYSE:SPLP - ) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 800 shares, an increase of 700.0% from the September 15th total of 100 shares. Based on an average daily trading volume, of 2,300 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 2,300 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently bought a new position in Steel Partners stock. Axxcess Wealth Management LLC bought a new stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,051 shares of the conglomerate's stock, valued at approximately $330,000. 50.75% of the stock is owned by institutional investors and hedge funds.

Steel Partners Stock Performance

Shares of SPLP stock traded down $1.06 on Friday, hitting $41.40. The company had a trading volume of 367 shares, compared to its average volume of 2,729. The firm has a market cap of $827.96 million, a P/E ratio of 4.25 and a beta of 1.05. The company has a 50-day moving average price of $42.30 and a 200-day moving average price of $40.20. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners has a twelve month low of $27.95 and a twelve month high of $48.45.

Steel Partners Company Profile

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.

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