Algoma Steel Group Inc. [ASTL] is -12.58% lower this YTD. Is it still time to buy?


Algoma Steel Group Inc. [NASDAQ: ASTL] closed the trading session at $9.45 on 06/15/22. The day’s price range saw the stock hit a low of $9.03, while the highest price level was $9.735. The company report on June 14, 2022 that Algoma Steel Group Reports Fiscal Fourth Quarter and Full Year 2022 Financial Results.

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Record Full-Year Revenue, Adjusted EBITDA and Free Cash Flow Performance.

The stocks have a year to date performance of -12.58 percent and weekly performance of 4.19 percent. The stock has been moved at 2.94 percent over the last six months. The stock has performed 3.73 percent around the most recent 30 days and changed -12.01 percent over the most recent 3-months.

If compared to the average trading volume of 1.01M shares, ASTL reached to a volume of 6223893 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Algoma Steel Group Inc. [ASTL]:

BMO Capital Markets have made an estimate for Algoma Steel Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 07, 2021.

The Average True Range (ATR) for Algoma Steel Group Inc. is set at 0.55, with the Price to Sales ratio for ASTL stock in the period of the last 12 months amounting to 0.40. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 4.01.

ASTL stock trade performance evaluation

Algoma Steel Group Inc. [ASTL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.19. With this latest performance, ASTL shares gained by 3.73% in over the last four-week period, additionally plugging by 2.94% over the last 6 months – not to mention a drop of -5.22% 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 ASTL stock in for the last two-week period is set at 52.83, with the RSI for the last a single of trading hit 56.32, and the three-weeks RSI is set at 50.85 for Algoma Steel Group Inc. [ASTL]. The present Moving Average for the last 50 days of trading for this stock 9.59, while it was recorded at 8.55 for the last single week of trading.

Algoma Steel Group Inc. [ASTL]: An insightful look at the core fundamentals

When it comes to the capital structure of this company, Algoma Steel Group Inc. [ASTL] has a Total Debt to Total Equity ratio set at 257.85. Additionally, ASTL Total Debt to Total Capital is recorded at 72.06, with Total Debt to Total Assets ending up at 60.72.

Reflecting on the efficiency of the workforce at the company, Algoma Steel Group Inc. [ASTL] managed to generate an average of -$351 per employee.Algoma Steel Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.80.

Algoma Steel Group Inc. [ASTL]: Insider Ownership positions

There are presently around $749 million, or 84.30% of ASTL stock, in the hands of institutional investors. The top three institutional holders of ASTL stocks are: BAIN CAPITAL CREDIT, LP with ownership of 20,515,674, which is approximately 46.599% of the company’s market cap and around 15.40% of the total institutional ownership; BARCLAYS PLC, holding 12,398,564 shares of the stock with an approximate value of $97.95 million in ASTL stocks shares; and CONTRARIAN CAPITAL MANAGEMENT, L.L.C., currently with $68.34 million in ASTL stock with ownership of nearly 42.387% of the company’s market capitalization.

Positions in Algoma Steel Group Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 64 institutional holders increased their position in Algoma Steel Group Inc. [NASDAQ:ASTL] by around 41,976,051 shares. Additionally, 26 investors decreased positions by around 2,573,611 shares, while 13 investors held positions by with 50,212,659 shares. The mentioned changes placed institutional holdings at 94,762,321 shares, according to the latest SEC report filing. ASTL stock had 33 new institutional investments in for a total of 24,652,009 shares, while 14 institutional investors sold positions of 1,578,321 shares during the same period.