Steel Connect (NASDAQ:STCN) Stock Crosses Below 200 Day Moving Average of $1.23

('s share value fell below its 200 day moving average on Monday during trading. Stock has a moving average of 1,23 dollars and traded as low at $0.77. Steel Connect shares were last traded at $0.77 with 32,971 trading shares.

Wall Street analysts forecast growth

The fifty-day moving average of the business is $1.06, and its two hundred day moving is $1.22. The stock's market capitalization is $47.42million, with a PE of 1.42. It also has a beta value of 0.30.

The last time ) released quarterly earnings was on March 15th. The technology company posted ($0.02) earnings per share for the quarter. Revenue for the quarter was $50.78 millions.

Inflows of Institutional Capital and Outflows

Recently, a number of institutional investors made recent changes to their STCN positions. Gabelli Funds LLC increased its stake in Steel Connect shares by 52.8% during the third quarter. Gabelli Funds LLC owns 2,312,247 of the technology company stock, valued at $3.168,000, after buying an additional 799.247 during the last quarter. Bank of America Corp DE increased its position in Steel Connect in the first quarter by 43.4%. Bank of America Corp DE owns now 243,500 of the stock of the technology firm worth $314,000, after buying an additional 73671 shares. Prelude Capital Management LLC purchased a new stake of Steel Connect worth approximately $84,000 in the second quarter. Millennium Management LLC acquired a new stake in Steel Connect shares during the fourth-quarter valued at about $89,000. Geode Capital Management LLC increased its stake in Steel Connect shares by 152.8% over the course of the fourth quarter. Geode Capital Management LLC owns now 81,830 of the stock of the technology firm valued at $117,000, after purchasing an additional 49,466 during the last quarterly. Institutional investors hold 47.19% the company's shares.

Steel Connect Company Profile

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Steel Connect, Inc. is a holding firm that provides end-to-end supply chain solutions as well as e-commerce. The company's products are designed to improve the global supply chain of their clients, as well as speed to market and product customization. They also aim to reduce costs, increase flexibility, improve quality, and enhance service. The company was established in 1986 with its headquarters in Smyrna TN.

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