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

Ascent Industries Co. (NASDAQ:ACNT) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 9,000 shares, a growth of 9.8% from the October 31st total of 8,200 shares. Based on an average trading volume of 55,400 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Insider Transactions at Ascent Industries

In other news, insider Privet Fund Management Llc sold 1,665,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $8.22, for a total transaction of $13,686,300.00. Following the sale, the insider now owns 8,648 shares in the company, valued at approximately $71,086.56. The trade was a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Bryan Kitchen acquired 11,170 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average cost of $8.61 per share, with a total value of $96,173.70. Following the completion of the transaction, the chief executive officer now directly owns 50,841 shares in the company, valued at $437,741.01. The trade was a 28.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.85% of the company’s stock.

Institutional Investors Weigh In On Ascent Industries

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Ascent Industries by 4.3% during the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock valued at $2,616,000 after purchasing an additional 10,688 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Ascent Industries in the 3rd quarter valued at about $132,000. Values Added Financial LLC purchased a new stake in shares of Ascent Industries in the third quarter worth about $133,000. Empowered Funds LLC grew its holdings in Ascent Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock worth $414,000 after acquiring an additional 2,144 shares during the period. Finally, De Lisle Partners LLP raised its position in Ascent Industries by 5.5% during the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after acquiring an additional 10,349 shares in the last quarter. Hedge funds and other institutional investors own 26.05% of the company’s stock.

Ascent Industries Stock Performance

Ascent Industries stock traded down $0.14 during trading hours on Wednesday, hitting $11.99. 17,632 shares of the stock traded hands, compared to its average volume of 22,708. The firm’s 50 day moving average price is $9.80 and its 200-day moving average price is $9.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81. The stock has a market capitalization of $120.98 million, a price-to-earnings ratio of -71.35 and a beta of 0.85. Ascent Industries has a 1 year low of $7.20 and a 1 year high of $12.38.

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.