Algoma Steel Group (TSE:ASTL) Trading Down 9.2% – Here’s What Happened

Algoma Steel Group Inc. (TSE:ASTL)’s stock price was down 9.2% during trading on Friday . The company traded as low as C$6.90 and last traded at C$6.94. Approximately 596,461 shares were traded during trading, a decline of 11% from the average daily volume of 670,706 shares. The stock had previously closed at C$7.64.

Algoma Steel Group Stock Down 9.2%

The business’s fifty day moving average price is C$6.65 and its 200 day moving average price is C$6.13. The company has a market capitalization of C$731.40 million, a P/E ratio of -0.67 and a beta of 1.62. The company has a current ratio of 2.18, a quick ratio of 1.51 and a debt-to-equity ratio of 175.52.

Algoma Steel Group (TSE:ASTL) last released its quarterly earnings data on Tuesday, May 12th. The company reported C($1.46) EPS for the quarter. The business had revenue of C$296.90 million for the quarter. Algoma Steel Group had a negative return on equity of 125.08% and a negative net margin of 47.22%. As a group, equities research analysts predict that Algoma Steel Group Inc. will post 1.4795699 earnings per share for the current fiscal year.

About Algoma Steel Group

Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales. Substantial revenue is generated from the sale of Steel sheets and strips.