Steel Partners (NYSE:SPLP) Shares Gap Up – What’s Next?

Steel Partners Holdings L.P. (NYSE:SPLP) gapped up before the market opened on Tuesday . The stock had previously closed at $40.03, but opened at $42.19. Steel Partners shares last traded at $41.20, with a volume of 1,150 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research note on Tuesday, February 4th. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The stock’s fifty day simple moving average is $41.78 and its 200-day simple moving average is $40.53. The company has a market capitalization of $790.22 million, a PE ratio of 4.23 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Steel Partners (NYSE:SPLP) last released its quarterly earnings data on Friday, November 8th. The conglomerate reported $1.65 earnings per share for the quarter. The firm had revenue of $520.42 million during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP lifted its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,877 shares of the conglomerate’s stock after buying an additional 10,377 shares during the quarter. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 at the end of the most recent quarter. 50.75% of the stock is owned by hedge funds and other institutional investors.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.