Algoma Steel Group Inc. (NASDAQ:ASTLW – Get Rating) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 12,800 shares, an increase of 16.4% from the March 31st total of 11,000 shares. Based on an average daily volume of 63,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Algoma Steel Group

A number of hedge funds have recently added to or reduced their stakes in the company. Josh Arnold Investment Consultant LLC acquired a new stake in Algoma Steel Group in the fourth quarter valued at approximately $31,000. Sonic GP LLC purchased a new position in shares of Algoma Steel Group during the fourth quarter valued at approximately $323,000. Fort Baker Capital Management LP boosted its position in shares of Algoma Steel Group by 28.2% during the fourth quarter. Fort Baker Capital Management LP now owns 595,975 shares of the company's stock valued at $688,000 after buying an additional 131,109 shares during the last quarter. Aristeia Capital LLC boosted its position in shares of Algoma Steel Group by 192.9% during the fourth quarter. Aristeia Capital LLC now owns 1,898,076 shares of the company's stock valued at $2,164,000 after buying an additional 1,250,012 shares during the last quarter. Finally, LMR Partners LLP boosted its position in shares of Algoma Steel Group by 116.7% during the third quarter. LMR Partners LLP now owns 1,421,733 shares of the company's stock valued at $9,156,000 after buying an additional 765,542 shares during the last quarter.

Algoma Steel Group Price Performance

Shares of Algoma Steel Group stock opened at $1.60 on Friday. Algoma Steel Group has a 52 week low of $0.92 and a 52 week high of $2.79. The stock has a 50 day moving average price of $1.74 and a two-hundred day moving average price of $1.43.

Further Reading

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