Steel Connect (NASDAQ:STCN) Stock Price Crosses Below Two Hundred Day Moving Average of $9.54

Steel Connect, Inc. (NASDAQ:STCN) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.54 and traded as low as $9.42. Steel Connect shares last traded at $9.50, with a volume of 8,435 shares changing hands.

Steel Connect Trading Down 0.1 %

The firm has a 50 day moving average price of $8.98 and a 200-day moving average price of $9.54. The firm has a market cap of $59.69 million, a PE ratio of 9.55 and a beta of 0.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Steel Connect by 43.4% during the 1st quarter. Bank of America Corp DE now owns 243,500 shares of the technology company’s stock worth $314,000 after purchasing an additional 73,671 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Steel Connect by 7.3% in the first quarter. Gamco Investors INC. ET AL now owns 1,059,800 shares of the technology company’s stock valued at $1,208,000 after buying an additional 72,000 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Steel Connect by 2.2% during the 1st quarter. Gabelli Funds LLC now owns 2,912,910 shares of the technology company’s stock worth $3,321,000 after buying an additional 63,761 shares during the last quarter. Prelude Capital Management LLC acquired a new position in shares of Steel Connect during the 2nd quarter worth about $84,000. Finally, Millennium Management LLC purchased a new position in shares of Steel Connect in the 4th quarter valued at about $89,000. 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.