Algoma Steel Group Inc. [ASTL] fell -12.49% so far this year. What now?


Algoma Steel Group Inc. [NASDAQ: ASTL] price surged by 1.07 percent to reach at $0.1. The company report on July 19, 2022 that Algoma Steel Donates $1 Million toward Sault Area Hospital Residential Withdrawal Management Facility.

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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its donation of CDN $1 million to Sault Area Hospital Foundation (“SAHF”), in support of Sault Area Hospital’s (“SAH”) Residential Withdrawal Management Facility.

Construction and retrofitting of the property at 145 Old Garden River Road began in May of 2022. The new facility will provide twenty residential withdrawal management beds and safe beds in a completely renovated space.

A sum of 5302429 shares traded at recent session while its average daily volume was at 1.45M shares. Algoma Steel Group Inc. shares reached a high of $9.60 and dropped to a low of $9.36 until finishing in the latest session at $9.46.

The average equity rating for ASTL stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Algoma Steel Group Inc. [ASTL]:

Stifel have made an estimate for Algoma Steel Group Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 30, 2022. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on December 07, 2021, representing the official price target for Algoma Steel Group Inc. stock.

The Average True Range (ATR) for Algoma Steel Group Inc. is set at 0.38, with the Price to Sales ratio for ASTL stock in the period of the last 12 months amounting to 0.47. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 4.82. Price to Free Cash Flow for ASTL in the course of the last twelve months was 1.64 with Quick ratio for the last quarter at 2.70.

ASTL Stock Performance Analysis:

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 5.70. With this latest performance, ASTL shares gained by 2.94% in over the last four-week period, additionally sinking by -5.59% over the last 6 months – not to mention a drop of -5.40% 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 56.20, with the RSI for the last a single of trading hit 62.37, and the three-weeks RSI is set at 53.09 for Algoma Steel Group Inc. [ASTL]. The present Moving Average for the last 50 days of trading for this stock 9.13, while it was recorded at 9.20 for the last single week of trading.

Insight into Algoma Steel Group Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Algoma Steel Group Inc. [ASTL] shares currently have an operating margin of +37.07 and a Gross Margin at +39.77. Algoma Steel Group Inc.’s Net Margin is presently recorded at +22.54.

Return on Equity for this stock inclined to 97.67, with Return on Assets sitting at 40.39.

Algoma Steel Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 3.60.

Algoma Steel Group Inc. [ASTL] Insider Position Details

There are presently around $900 million, or 64.50% 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 $116.05 million in ASTL stocks shares; and CONTRARIAN CAPITAL MANAGEMENT, L.L.C., currently with $80.97 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 August and at the time of the August reporting period, where 68 institutional holders increased their position in Algoma Steel Group Inc. [NASDAQ:ASTL] by around 43,379,925 shares. Additionally, 25 investors decreased positions by around 2,563,611 shares, while 12 investors held positions by with 50,227,659 shares. The mentioned changes placed institutional holdings at 96,171,195 shares, according to the latest SEC report filing. ASTL stock had 34 new institutional investments in for a total of 25,662,326 shares, while 14 institutional investors sold positions of 1,578,321 shares during the same period.