Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.10, read 2026-11-02
Ethical does not pass the values gate
Price5.27 USD
Ethical score70.0/100
Our investment reviews on this name
2026-11-01Read Accumulation4.77+10.5% to today ✓Markdown gives way to Accumulation after a 16% rise in 7 days
2026-10-25Read Markdown4.10+28.5% to today Accumulation gives way to Markdown first Markdown read since October
2026-10-18Read Accumulation4.10+28.5% to today ✓Markdown gives way to Accumulation
2026-10-11Read Markdown4.27+23.4% to today Accumulation gives way to Markdown
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Algoma Steel Group Inc holds its Accumulation at $5.27. The statistical read favours the sellers, held for 28 days.
As held on the ledger · 2026-11-04
Phase
Accumulation
Quantitative state
The statistical read favours the sellers, held for 28 days
Price at the screen
$5.27
Valuation
N/A trailing · -13.43 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.64
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
40.74%
Below 33%
Interest-bearing debt is 40.7% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
11.39%
Below 49%
Money owed to the company is 11.4% of assets, under the 49% limit.
Pass
Revenue purity
0.32%
Below 5%
Only 0.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Algoma Steel's business is in a permissible area, but its interest-bearing debt is about 41% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today ASTL does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day; its business and earnings are exposed to Canada and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ASTL trades on NASDAQ (the company is based in Canada). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 16.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-10-25Markdown · changed$4.10+0.0%Entry 10
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-10-18Accumulation · changed$4.10-4.0%Entry 9
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 4.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-10-11Markdown · changed$4.27+0.0%Entry 8
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-10-02Accumulation$4.27+0.0%Entry 7
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 11.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-08-22Markup · changed$3.83+0.0%Entry 5
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-07-22Accumulation$3.83-23.6%Entry 4
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 23.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-07-18Accumulation$5.01+0.0%Entry 3
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are down 25%. Our forward projection puts the odds of a 10% gain over the next month near 25%.
2026-07-03Accumulation$5.01+0.0%Entry 2
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.