Steel Connect Inc. [STCN] Is Currently 36.70 above its 200 Period Moving Avg: What Dose This Mean?

Steel Connect Inc. [NASDAQ: STCN] gained 36.70% or 0.4 points to close at $1.49 with a heavy trading volume of 1588303 shares. The company report on January 11, 2021 that Special Committee of the Board of Directors of Steel Connect, Inc. Retains Financial Advisor and Legal Counsel.

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Steel Connect, Inc. (the “Company”) (NASDAQ: STCN) announced that its Special Committee of independent directors (the “Special Committee”) has retained Houlihan Lokey as its financial advisor and Dentons US LLP as its legal counsel to assist it in connection with its review and evaluation of the previously announced preliminary non-binding expression of interest (the “Expression of Interest”) that the Company’s board of directors (the “Board”) received on November 19, 2020 from Steel Partners Holdings L.P. (“Steel Holdings”).

The Special Committee will, among other things, consider the Expression of Interest from Steel Holdings to purchase all outstanding shares of the Company’s common stock not currently owned by Steel Holdings or its affiliates, and any alternatives thereto.

It opened the trading session at $1.16, the shares rose to $1.65 and dropped to $1.15, the range by which the price of stock traded the whole day. The daily chart for STCN points out that the company has recorded 161.59% gains over the past six months. However, it is still -272.5% lower than its most recent low trading price.

If we look at the average trading volume of 215.42K shares, STCN reached to a volume of 1588303 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Steel Connect Inc. [STCN]:

The Average True Range (ATR) for Steel Connect Inc. is set at 0.12, with the Price to Sales ratio for STCN stock in the period of the last 12 months amounting to 0.13. The Price to Book ratio for the last quarter was 1.94, with the Price to Cash per share for the same quarter was set at 1.70. Price to Free Cash Flow for STCN in the course of the last twelve months was 1.40 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for STCN stock

Steel Connect Inc. [STCN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 40.57. With this latest performance, STCN shares gained by 81.71% in over the last four-week period, additionally plugging by 161.59% over the last 6 months – not to mention a drop of -1.97% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STCN stock in for the last two-week period is set at 85.76, with the RSI for the last a single of trading hit 90.84, and the three-weeks RSI is set at 81.64 for Steel Connect Inc. [STCN]. The present Moving Average for the last 50 days of trading for this stock 0.8184, while it was recorded at 1.1420 for the last single week of trading, and 0.6537 for the last 200 days.

Steel Connect Inc. [STCN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Steel Connect Inc. [STCN] shares currently have an operating margin of +4.14 and a Gross Margin at +14.39. Steel Connect Inc.’s Net Margin is presently recorded at -0.68.

Return on Total Capital for STCN is now 6.51, given the latest momentum, and Return on Invested Capital for the company is -1.10. Return on Equity for this stock declined to -6.15, with Return on Assets sitting at -0.71. When it comes to the capital structure of this company, Steel Connect Inc. [STCN] has a Total Debt to Total Equity ratio set at 519.75. Additionally, STCN Total Debt to Total Capital is recorded at 83.86, with Total Debt to Total Assets ending up at 57.51. Long-Term Debt to Equity for the company is recorded at 853.65, with the Long-Term Debt to Total Capital now at 80.05.

Reflecting on the efficiency of the workforce at the company, Steel Connect Inc. [STCN] managed to generate an average of -$1,518 per employee. Receivables Turnover for the company is 7.17 with a Total Asset Turnover recorded at a value of 1.05.Steel Connect Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

Steel Connect Inc. [STCN]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STCN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Steel Connect Inc. go to 10.00%.

An analysis of insider ownership at Steel Connect Inc. [STCN]

There are presently around $32 million, or 47.30% of STCN stock, in the hands of institutional investors. The top three institutional holders of STCN stocks are: STEEL PARTNERS HOLDINGS L.P. with ownership of 18,182,705, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 2,437,436 shares of the stock with an approximate value of $2.66 million in STCN stocks shares; and GABELLI FUNDS LLC, currently with $1.99 million in STCN stock with ownership of nearly 305.089% of the company’s market capitalization.

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Positions in Steel Connect Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 10 institutional holders increased their position in Steel Connect Inc. [NASDAQ:STCN] by around 1,796,103 shares. Additionally, 10 investors decreased positions by around 2,461,742 shares, while 13 investors held positions by with 24,980,508 shares. The mentioned changes placed institutional holdings at 29,238,353 shares, according to the latest SEC report filing. STCN stock had 2 new institutional investments in for a total of 10,575 shares, while 3 institutional investors sold positions of 1,636,672 shares during the same period.

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