Algoma Steel Group Inc. (NASDAQ:ASTLW) Sees Significant Increase in Short Interest

Algoma Steel Group Inc. (NASDAQ:ASTLW) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 44,200 shares, anincreaseof497.3% from the July 31st total of 7,400 shares. Based on an average daily trading volume, of 32,400 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 32,400 shares, the days-to-cover ratio is currently 1.4 days.

Algoma Steel Group Stock Performance

Shares of ASTLW traded down $0.02 during midday trading on Tuesday, hitting $0.25. The stock had a trading volume of 3,248 shares, compared to its average volume of 27,003. Algoma Steel Group has a fifty-two week low of $0.18 and a fifty-two week high of $2.40. The business has a 50-day simple moving average of $0.35 and a two-hundred day simple moving average of $0.43.

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.