Steel Connect (NASDAQ:STCN) Stock Passes Below Two Hundred Day Moving Average of $9.53

Steel Connect, Inc. (NASDAQ:STCN)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.53 and traded as low as $8.80. Steel Connect shares last traded at $9.37, with a volume of 10,018 shares changing hands.

Steel Connect Stock Performance

The stock has a market cap of $57.71 million, a price-to-earnings ratio of 9.27 and a beta of 0.33. The company’s 50 day simple moving average is $8.94 and its 200 day simple moving average is $9.51.

Hedge Funds Weigh In On Steel Connect

Hedge funds have recently made changes to their positions in the business. FORVIS Wealth Advisors LLC acquired a new position in shares of Steel Connect in the 3rd quarter worth approximately $168,000. Northern Trust Corp acquired a new position in shares of Steel Connect in the fourth quarter worth about $178,000. Centiva Capital LP acquired a new position in shares of Steel Connect in the fourth quarter worth about $29,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Steel Connect in the first quarter worth about $33,000. Finally, Jane Street Group LLC acquired a new position in shares of Steel Connect in the third quarter worth about $47,000. Institutional investors and hedge funds own 47.28% of the company’s stock.

About Steel Connect

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.