Steel Connect (NASDAQ:STCN) Shares Cross Below 200 Day Moving Average of $11.30

Steel Connect, Inc. (NASDAQ:STCN) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.30 and traded as low as $10.93. Steel Connect shares last traded at $11.45, with a volume of 19,549 shares traded.

Steel Connect Price Performance

The company has a market cap of $72.32 million, a P/E ratio of 3.64 and a beta of 0.19. The stock has a 50-day moving average of $12.11 and a 200 day moving average of $11.30.

Insider Buying and Selling

In other Steel Connect news, Director Steel Partners Holdings L.P. acquired 439,673 shares of Steel Connect stock in a transaction that occurred on Sunday, September 1st. The shares were acquired at an average cost of $12.00 per share, with a total value of $5,276,076.00. Following the completion of the purchase, the director now directly owns 1,552,839 shares of the company’s stock, valued at approximately $18,634,068. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by company insiders.

Institutional Trading of Steel Connect

A number of hedge funds have recently made changes to their positions in STCN. Wealthspire Advisors LLC acquired a new stake in shares of Steel Connect during the first quarter valued at about $2,991,000. Gamco Investors INC. ET AL raised its position in shares of Steel Connect by 0.6% during the first quarter. Gamco Investors INC. ET AL now owns 159,057 shares of the technology company’s stock worth $1,509,000 after acquiring an additional 1,000 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Steel Connect by 1.4% during the first quarter. Gabelli Funds LLC now owns 332,775 shares of the technology company’s stock worth $3,158,000 after acquiring an additional 4,719 shares during the last quarter. Finally, Steel Partners Holdings L.P. raised its position in shares of Steel Connect by 51.7% during the second quarter. Steel Partners Holdings L.P. now owns 3,061,313 shares of the technology company’s stock worth $39,307,000 after acquiring an additional 1,043,624 shares during the last quarter. 47.28% of the stock is owned by institutional investors and hedge funds.

Steel Connect Company Profile

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.