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

Algoma Steel Group Inc. (NASDAQ:ASTLW) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 18,453 shares, a drop of 56.8% from the July 30th total of 42,758 shares. Based on an average daily volume of 43,735 shares, the short-interest ratio is presently 0.4 days.

Algoma Steel Group Trading Down 67.0%

Shares of ASTLW stock traded down $0.01 on Friday, reaching $0.00. The company’s stock had a trading volume of 92,295 shares, compared to its average volume of 30,919. Algoma Steel Group has a 12-month low of $0.00 and a 12-month high of $0.34. The stock’s 50 day simple moving average is $0.02 and its 200-day simple moving average is $0.06.

Algoma Steel Group Company Profile

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.