Algoma Steel Group Target of Unusually High Options Trading (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTL) was the recipient of unusually large options trading on Friday. Traders acquired 19,351 put options on the stock. This represents an increase of approximately 3,319% compared to the average volume of 566 put options.

Algoma Steel Group Price Performance

Shares of NASDAQ ASTL traded down $0.26 during midday trading on Friday, reaching $8.33. The company’s stock had a trading volume of 101,560 shares, compared to its average volume of 606,155. The company has a market cap of $872.96 million, a P/E ratio of -6.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The business’s 50 day moving average price is $9.20 and its two-hundred day moving average price is $9.76. Algoma Steel Group has a fifty-two week low of $6.67 and a fifty-two week high of $12.14.

Institutional Trading of Algoma Steel Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Wexford Capital LP bought a new position in shares of Algoma Steel Group during the third quarter worth about $107,000. Net Worth Advisory Group acquired a new stake in shares of Algoma Steel Group in the 3rd quarter worth about $159,000. Terril Brothers Inc. purchased a new position in shares of Algoma Steel Group during the fourth quarter valued at approximately $214,000. DekaBank Deutsche Girozentrale boosted its holdings in Algoma Steel Group by 13.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company’s stock worth $217,000 after purchasing an additional 2,481 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Algoma Steel Group by 132.8% during the 3rd quarter. XTX Topco Ltd now owns 24,433 shares of the company’s stock worth $250,000 after purchasing an additional 13,937 shares during the period. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Company Profile

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.