Can Algoma Steel Group Inc. (NASDAQ: ASTL) Still Be Considered A Loss When It’s Down -22.29% YTD? – Marketing Sentinel
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Can Algoma Steel Group Inc. (NASDAQ: ASTL) Still Be Considered A Loss When It’s Down -22.29% YTD?

During the recent session, Algoma Steel Group Inc. (NASDAQ:ASTL)’s traded shares were 0.64 million. At the last check today, the stock’s price was $9.05, reflecting an intraday gain of 7.74% or $0.65. The 52-week high for the ASTL share is $13.65, that puts it down -50.83 from that peak though still a striking 12.04% gain since the share price plummeted to a 52-week low of $7.96. The company’s market capitalization is $950.46M, and the average intraday trading volume over the past 10 days was 1.0 million shares, and the average trade volume was 994.21K shares over the past three months.

Algoma Steel Group Inc. (ASTL) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. ASTL has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.

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Algoma Steel Group Inc. (NASDAQ:ASTL) trade information

Algoma Steel Group Inc. (ASTL) registered a 7.74% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 7.74% in intraday trading to $9.05 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -9.48%, and it has moved by -20.75% in 30 days. Based on these gigs, the overall price performance for the year is -14.20%. The short interest in Algoma Steel Group Inc. (NASDAQ:ASTL) is 3.18 million shares and it means that shorts have 6.57 day(s) to cover.

The consensus price target of analysts on Wall Street is $19.00, which implies an increase of 52.37% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $16.00 and $23.00 respectively. As a result, ASTL is trading at a discount of -154.14% off the target high and -76.8% off the low.

While earnings are projected to return 56.70% in 2022.

ASTL Dividends

Algoma Steel Group Inc. is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Algoma Steel Group Inc. is 0.20, with the dividend yield indicating at 2.38 percent, continuing the trend of increasing dividends in recent years.

Algoma Steel Group Inc. (NASDAQ:ASTL)’s Major holders

Algoma Steel Group Inc. insiders own 5.07% of total outstanding shares while institutional holders control 13.89%, with the float percentage being 14.63%. Saltoro Capital, LP is the largest shareholder of the company, while 55 institutions own stock in it. As of Dec 30, 2021, the company held over 0.35 million shares (or 0.32% of all shares), a total value of $3.82 million in shares.

The next largest institutional holding, with 0.22 million shares, is of Harrison (K.J.) & Partners, Inc.’s that is approximately 0.19% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $2.35 million.

Also, the Mutual Funds coming in first place with the largest holdings of Algoma Steel Group Inc. (ASTL) shares are Fidelity NASDAQ Composite Index Fund and ETF Series Solutions-Defiance Next Gen SPAC Derived ETF. Data provided on Nov 29, 2021 indicates that Fidelity NASDAQ Composite Index Fund owns about 39165.0 shares. This amounts to just over 0.03 percent of the company’s overall shares, with a $0.43 million market value. The same data shows that the other fund manager holds slightly less at 8570.0, or about 0.01% of the stock, which is worth about $93070.0.

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