Steel Connect (NASDAQ:STCN) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Steel Connect, Inc. (NASDAQ:STCN) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.46 and traded as high as $12.58. Steel Connect shares last traded at $12.18, with a volume of 290,625 shares trading hands.

Steel Connect Price Performance

The business has a 50 day moving average of $12.02 and a 200 day moving average of $11.46. The firm has a market capitalization of $77.17 million, a price-to-earnings ratio of 3.97 and a beta of 0.25.

Steel Connect (NASDAQ:STCN) last issued its earnings results on Thursday, December 12th. The technology company reported $0.07 EPS for the quarter. Steel Connect had a return on equity of 14.59% and a net margin of 50.53%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Steel Connect stock. Deltec Asset Management LLC bought a new stake in Steel Connect, Inc. (NASDAQ:STCN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,597 shares of the technology company’s stock, valued at approximately $145,000. Deltec Asset Management LLC owned approximately 0.18% of Steel Connect at the end of the most recent quarter. 47.28% of the stock is currently owned by institutional investors.

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.