Short interest in Ascent Industries Co. (NASDAQ:ACNT) up 66.1%

Ascent Industries Co. (NASDAQ:ACNT – Get Free Report ) received a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 9,300 shares, up 66.1% from July 15th’s total of 5,600 shares. Based on an average daily volume of 10,200 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.1% of the company’s shares are short sold.

Ascent Industries stock rose 1.2%

Shares of Ascent Industries stock opened at $10.24 on Thursday. The company has a market cap of $103.73 million, a P/E ratio of -3.82 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.45, and a current ratio of 3.16. Ascent Industries has a one year low of $7.20 and a one year high of $11.19. The firm has a fifty day moving average of $9.93 and a two hundred day moving average of $10.15.

Insider work at Ascent Industries

In related news, insider Privet Fund Management Llc sold 172,995 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $10.32, for a total value of $1,785,308.40. Following the completion of the sale, the insider now owns 1,673,648 shares in the company, valued at approximately $17,272,047.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. 12.85% of shares are owned by insiders.

Hedge Funds Influence Ascent Industries

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Ascent Industries by 4.3% in the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after buying an additional 10,688 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of Ascent Industries by 9.6% during the 4th quarter. Merit Financial Group LLC now owns 56,900 shares of the company’s stock worth $544,000 after buying an additional 5,000 shares during the period. actions during that period. Empowered Funds LLC raised 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 during the period. Perritt Capital Management Inc. raised its stake in shares of Ascent Industries by 36.0% in the first quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock worth $208,000 after buying an additional 5,402 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Ascent Industries by 82.5% during the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock worth $85,000 after buying an additional 4,004 shares during the period. Hedge funds and other institutional investors own 26.05% of the company’s shares.

Ascent Industries Company Profile

(Get a free report)

Ascent Industries Co an industrial company, manufactures and distributes stainless steel pipe and tubing and specialty chemicals in the United States and internationally. The company operates through two segments, Tubular Products and Specialty Chemicals. Produces pipes and welded pipes, mainly stainless steel, duplex and nickel alloys; and ornamental stainless steel tubing for automotive, commercial transportation, marine, food service, construction, furniture, healthcare and other industries.

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