Steel Partners (NYSE:SPLP) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Steel Partners Holdings L.P. shares recently surpassed their 200-day moving average of $39.97, peaking at $42.50 during trading, and closing at $42.21.
• Wall Street Zen has initiated coverage on Steel Partners with a "strong-buy" rating, signaling positive outlook from analysts.
• Axxcess Wealth Management LLC acquired a new position in Steel Partners, purchasing 8,051 shares valued at approximately $330,000, highlighting growing institutional interest.

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $39.97 and traded as high as $42.50. Steel Partners shares last traded at $42.21, with a volume of 453 shares trading hands.

Steel Partners Stock Down 0.8%

The stock's 50-day moving average price is $41.55 and its two-hundred day moving average price is $40.00. The stock has a market capitalization of $856.79 million, a P/E ratio of 4.39 and a beta of 1.11. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Gamco Investors INC. ET AL increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,648 shares of the conglomerate's stock after buying an additional 3,276 shares during the period. Gamco Investors INC. ET AL owned 0.52% of Steel Partners worth $4,139,000 as of its most recent SEC filing. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.