The time has not yet come to remove your chips from the table: Algoma Steel Group Inc. (ASTL)

Algoma Steel Group Inc. (NASDAQ: ASTL) stock fell -3.77% on Wednesday to $7.14 against a previous-day closing price of $7.42. With 0.67 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Steel company that operates in wider Basic Materials sector, reached to the highest price of $7.39 whereas the lowest price it dropped to was $7.03. The 52-week range on ASTL shows that it touched its highest point at $10.06 and its lowest point at $5.64 during that stretch. With its current market cap of 727.64 million, ASTL has annualized dividend of $0.20 while the current yield stands at 2.80%.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASTL was down-trending over the past week, with a drop of -2.72%, but this was down by -1.24% over a month. Three-month performance dropped to -5.43% while six-month performance rose 9.68%. The stock lost -23.23% in the past year, while it has gained 12.62% so far this year. A look at the trailing 12-month EPS for ASTL yields 3.56 with Next year EPS estimates of 1.79. For the next quarter, that number is -0.03. This implies an EPS growth rate of 953.70% for this year and 17.03% for next year.

Float and Shares Shorts:

At present, 103.57 million ASTL shares are outstanding with a float of 94.19 million shares on hand for trading. On Apr 27, 2023, short shares totaled 5.43 million, which was 5.24% higher than short shares on Mar 30, 2023. In addition to Mr. Rajat Marwah as the firm’s Chief Financial Officer, Mr. John Ralph Naccarato serves as its Interim Head of Operations, VP of Strategy & Chief Legal Officer.

Institutional Ownership:

Through their ownership of 75.11% of ASTL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of ASTL, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 1.19% stake in ASTL, the iShares Tr. – US Infrastructure E is the largest stakeholder. A total of 1,227,927 shares are owned by the mutual fund manager. The EHP Advantage Alternative Fund, which owns about 0.94% of ASTL stock, is the second-largest Mutual Fund holder. It holds 974,531 shares valued at 7.2 million. General American Investors Fund holds 0.94% of the stake in ASTL, owning 970,960 shares worth 7.18 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, ASTL reported revenue of $934.10M and operating income of $328.90M. The EBITDA in the recently reported quarter was $362.00M and diluted EPS was $1.49.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASTL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASTL analysts setting a high price target of $16.00 and a low target of $11.00, the average target price over the next 12 months is $13.80. Based on these targets, ASTL could surge 124.09% to reach the target high and rise by 54.06% to reach the target low. Reaching the average price target will result in a growth of 93.28% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Dividends & Yield:

In terms of dividends, ASTL has a current ratio of $0.2, which is $0.2 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and ASTL currently yields $2.8. In the past year, ASTL’s dividend yield has been $2.8. Accordingly, ASTL has a current buyback yield of $55.24. This was $55.24 for the TTM.

Summary of Insider Activity:

Insiders traded ASTL stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 2,006,094 while 1,932,007 shares were sold.

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