Algoma Steel Group Target of Unusually Large Options Trading (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTL) was the target of unusually large options trading on Friday. Stock traders bought 19,351 put options on the stock. This represents an increase of approximately 3,319% compared to the typical volume of 566 put options.

Institutional Investors Weigh In On Algoma Steel Group

Several large investors have recently modified their holdings of ASTL. Wexford Capital LP purchased a new stake in shares of Algoma Steel Group during the third quarter worth approximately $107,000. Net Worth Advisory Group purchased a new position in Algoma Steel Group in the third quarter worth $159,000. Terril Brothers Inc. purchased a new position in Algoma Steel Group in the fourth quarter worth $214,000. DekaBank Deutsche Girozentrale raised its position in Algoma Steel Group by 13.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company’s stock worth $217,000 after acquiring an additional 2,481 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Algoma Steel Group by 132.8% in the third quarter. XTX Topco Ltd now owns 24,433 shares of the company’s stock worth $250,000 after acquiring an additional 13,937 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Price Performance

Algoma Steel Group stock opened at $8.32 on Friday. Algoma Steel Group has a 12 month low of $6.67 and a 12 month high of $12.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The business has a 50 day simple moving average of $9.20 and a 200-day simple moving average of $9.76. The stock has a market capitalization of $872.44 million, a PE ratio of -6.55 and a beta of 1.46.

Algoma Steel Group Company Profile

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.