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

Algoma Steel Group Inc. (NASDAQ:ASTLW) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 44,200 shares, agrowthof497.3% from the July 31st total of 7,400 shares. Based on an average daily volume of 32,400 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 32,400 shares, the days-to-cover ratio is currently 1.4 days.

Algoma Steel Group Price Performance

Shares of ASTLW opened at $0.24 on Wednesday. The company’s 50-day moving average is $0.35 and its 200-day moving average is $0.42. Algoma Steel Group has a fifty-two week low of $0.18 and a fifty-two week high of $2.40.

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.