Stock News Summary: Steel Connect, Inc (NASDAQ Global Select Market:STCN)

Steel Connect, Inc (NASDAQ Global Select Market:STCN)stock observed trading -27.57% off 52-week high price. On the other end, the stock has been noted 0.65% away from low price over the last 52-weeks. The stock disclosed a move of -10.27% away from 50 day moving average and -14.93% away from 200 day moving average. Moving closer, we can see that shares have been trading -7.60% off 20-day moving average. It has market cap of $94.58M.

On Oct. 15, 2019, Steel Connect, Inc (NASDAQ Global Select Market:STCN) declared financial results for its fiscal year ended July 31, 2019 and the fourth quarter.

Operating Results

Fiscal Year ended July 31, 2019 Financial Highlights

  • Net revenue for fiscal 2019 increased $174.6 million to $819.8 million, compared to net revenue of $645.2 million in fiscal year 2018
  • Gross margin increased 260 basis points to 18.3% in fiscal 2019, compared to 15.7% in fiscal year 2018
  • Operating loss was ($25.2) million in fiscal 2019, compared to a loss of ($8.3) million in fiscal year 2018
  • Adjusted EBITDA increased $29.4 million to $65.4 million, compared to $36.0 million in fiscal year 2018
  • Fourth Quarter Financial Highlights
  • Net revenue for the fourth quarter of fiscal 2019 increased $9.4 million to $204.5 million, compared to $195.1 million for the same period of 2018
  • Gross margin was 18.2% for the fourth quarter of fiscal 2019, compared to 19.1% for the same period of 2018
  • Operating loss was ($33.1) million for the fourth quarter of fiscal 2019, compared to a loss of ($0.2) million for the same period of 2018
  • Adjusted EBITDA was $14.8 million for the fourth quarter of fiscal 2019, compared to $15.5 million for the same period of 2018

The USA based company Steel Connect moved with change of 0.00% to $1.55 with the total traded volume of 82867 shares in recent session versus to an average volume of 18.86K. The stock was observed in the 5 days activity at -1.90%. The one month performance of stock was -12.43%. STCN’s shares are at -11.43% for the quarter and driving a -24.02% return over the course of the past year and is now at -10.40% since this point in 2018.  Right now the stock beta is 0.12. The average volatility for the week and month was at 6.05% and 5.70% respectively. There are 61.02M shares outstanding and 54.52M shares are floated in market.

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