Steel Partners (NYSE:SPLP) Shares Pass Above Two Hundred Day Moving Average - What's Next?

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 share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Steel Partners Stock Up 2.4%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm has a 50-day simple moving average of $41.50 and a two-hundred day simple moving average of $39.97. The company has a market cap of $860.04 million, a PE ratio of 4.41 and a beta of 1.11.

Institutional Investors 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 Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,051 shares of the conglomerate's stock, valued at approximately $330,000. Institutional investors and hedge funds own 50.75% of the company's stock.

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.