Algoma Steel Group Inc. (NASDAQ:ASTLW) Sees Large Growth in Short Interest

by · The Markets Daily

Algoma Steel Group Inc. (NASDAQ:ASTLW – Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 42,758 shares, a growth of 9,595.7% from the July 15th total of 441 shares. Based on an average daily volume of 23,459 shares, the days-to-cover ratio is currently 1.8 days.

Algoma Steel Group Trading Down 23.1%

NASDAQ ASTLW traded down $0.00 on Tuesday, reaching $0.01. 22,758 shares of the stock traded hands, compared to its average volume of 31,104. The company has a fifty day moving average price of $0.03 and a 200-day moving average price of $0.07. Algoma Steel Group has a 12 month low of $0.00 and a 12 month high of $0.34.

About Algoma Steel Group

(Get Free Report)

Algoma Steel Group Inc operates as a fully integrated steel producer headquartered in Sault Ste. Marie, Ontario. The company’s primary business activities revolve around the manufacture of carbon steel products through a modern electric arc furnace steelmaking process. Algoma’s flagship facility combines melting, casting, and finishing operations to deliver a range of flat-rolled and long steel products to industrial customers.

Algoma’s product portfolio includes hot-rolled and cold-rolled coils, coated sheet, plate, rebar and merchant bar, as well as value-added services such as steel processing and inventory management.

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