Ascent Industries Co. (NASDAQ:ACNT) Short Interest Update

Ascent Industries Co. (NASDAQ:ACNT) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 7,000 shares, an increase of 18.6% from the August 31st total of 5,900 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 38,800 shares, the short-interest ratio is presently 0.2 days.

Insider Activity at Ascent Industries

In other Ascent Industries news, insider Privet Fund Management Llc sold 1,665,000 shares of Ascent Industries stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $8.22, for a total value of $13,686,300.00. Following the completion of the transaction, the insider now owns 8,648 shares of the company’s stock, valued at $71,086.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Ascent Industries news, insider Privet Fund Management Llc sold 1,665,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $8.22, for a total value of $13,686,300.00. Following the transaction, the insider now owns 8,648 shares of the company’s stock, valued at $71,086.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Bryan Kitchen bought 11,170 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was bought at an average price of $8.61 per share, with a total value of $96,173.70. Following the completion of the purchase, the chief executive officer now owns 50,841 shares of the company’s stock, valued at $437,741.01. The disclosure for this purchase can be found here. Corporate insiders own 12.85% of the company’s stock.

Institutional Trading of Ascent Industries

Several large investors have recently added to or reduced their stakes in ACNT. Empowered Funds LLC grew its stake in shares of Ascent Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock worth $383,000 after purchasing an additional 2,800 shares in the last quarter. Perritt Capital Management Inc. grew its position in Ascent Industries by 36.0% in the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock valued at $208,000 after buying an additional 5,402 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Ascent Industries by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock valued at $2,616,000 after buying an additional 10,688 shares during the period. 26.05% of the stock is currently owned by institutional investors and hedge funds.

Ascent Industries Price Performance

Shares of NASDAQ ACNT opened at $9.38 on Friday. Ascent Industries has a 1-year low of $7.20 and a 1-year high of $11.19. The firm has a market capitalization of $94.93 million, a PE ratio of -3.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.16 and a quick ratio of 1.45. The business’s fifty day moving average price is $9.89 and its two-hundred day moving average price is $10.07.

Ascent Industries (NASDAQ:ACNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter. Ascent Industries had a negative net margin of 6.89% and a negative return on equity of 12.99%. The firm had revenue of $50.19 million during the quarter.

Ascent Industries Company Profile

Ascent Industries Co an industrials company, produces and distributes stainless steel pipe and tube and specialty chemicals in the United States and internationally. The company operates through two segments, Tubular Products and Specialty Chemicals. It manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and ornamental stainless steel tubes for automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries.