Algoma Steel Group (NASDAQ:ASTL) Cut to “Strong Sell” at Wall Street Zen

Posted by Brenda Bartman on Sep 29th, 2026

Wall Street Zen cut shares of Algoma Steel Group (NASDAQ:ASTL – Free Report) from a sell rating to a strong sell rating in a report issued on Saturday,Wall Street Zen reports.

Several other research analysts also recently issued reports on the stock. Zacks Research upgraded shares of Algoma Steel Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Algoma Steel Group in a report on Monday, September 21st. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Read Our Latest Research Report on ASTL

Algoma Steel Group Trading Up 2.1%

Shares of Algoma Steel Group stock opened at $4.35 on Friday. The firm has a market capitalization of $459.62 million, a PE ratio of -0.59 and a beta of 1.64. The company has a current ratio of 2.49, a quick ratio of 1.35 and a debt-to-equity ratio of 2.85. The firm’s 50 day moving average is $4.28 and its 200 day moving average is $4.40. Algoma Steel Group has a 1 year low of $3.02 and a 1 year high of $5.90.

Algoma Steel Group (NASDAQ:ASTL – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Algoma Steel Group had a negative return on equity of 110.49% and a negative net margin of 71.60%.The company had revenue of $267.50 million for the quarter, compared to analyst estimates of $205.57 million. Equities research analysts forecast that Algoma Steel Group will post -2.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Algoma Steel Group

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC grew its holdings in Algoma Steel Group by 229.5% during the 2nd quarter. Citadel Advisors LLC now owns 845,935 shares of the company’s stock worth $3,426,000 after acquiring an additional 589,192 shares during the last quarter. Littlejohn & Co. LLC acquired a new position in Algoma Steel Group in the 2nd quarter valued at approximately $6,150,792. Corient Private Wealth LP bought a new position in shares of Algoma Steel Group during the second quarter valued at $61,000. Bank of America Corp DE bought a new position in shares of Algoma Steel Group during the second quarter valued at $471,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Algoma Steel Group during the second quarter worth $214,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

About Algoma Steel Group

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Algoma Steel Group Inc is a Canadian steel producer headquartered in Sault Ste. Marie, Ontario. Through its operating subsidiary, Algoma Steel Inc, the company manufactures steel products for customers in the automotive, construction, manufacturing, energy and transportation industries.

Algoma’s product portfolio includes hot- and cold-rolled steel sheet, galvanized steel, plate and other specialized steel products. Its products are used in applications such as vehicle components, heavy equipment, industrial machinery, structural construction and infrastructure projects.

The company traces its history to the establishment of Algoma Steel in Sault Ste.