Algoma Steel Group Inc. (NASDAQ:ASTLW – Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 48,749 shares, an increase of 164.2% from the August 15th total of 18,453 shares. Based on an average daily trading volume, of 23,491 shares, the days-to-cover ratio is currently 2.1 days.
Algoma Steel Group Stock Down 42.6%
NASDAQ:ASTLW opened at $0.01 on Friday. The business’s 50-day moving average price is $0.01 and its 200 day moving average price is $0.05. Algoma Steel Group has a 52-week low of $0.00 and a 52-week high of $0.34.
Algoma Steel Group Company Profile
Algoma Steel Group Inc operates as a fully integrated steel producer headquartered in Sault Ste. Marie, Ontario. The company’s primary business activities revolve around the manufacture of carbon steel products through a modern electric arc furnace steelmaking process. Algoma’s flagship facility combines melting, casting, and finishing operations to deliver a range of flat-rolled and long steel products to industrial customers.
Algoma’s product portfolio includes hot-rolled and cold-rolled coils, coated sheet, plate, rebar and merchant bar, as well as value-added services such as steel processing and inventory management.
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