Short Interest in Ascent Industries Co. (NASDAQ:ACNT) Declines By 31.7%

Ascent Industries Co. (NASDAQ:ACNT) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 28,700 shares, a decline of 31.7% from the January 31st total of 42,000 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 28,800 shares, the days-to-cover ratio is currently 1.0 days.

Insider Buying and Selling at Ascent Industries

In related news, VP Ravi Ramesh Srinivas purchased 4,000 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $11.21 per share, for a total transaction of $44,840.00. Following the acquisition, the vice president now directly owns 4,000 shares in the company, valued at approximately $44,840. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.85% of the company’s stock.

Hedge Funds Weigh In On Ascent Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACNT. Empowered Funds LLC increased its stake in shares of Ascent Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock worth $414,000 after purchasing an additional 2,144 shares during the last quarter. De Lisle Partners LLP boosted its holdings in Ascent Industries by 5.5% in the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock worth $1,914,000 after purchasing an additional 10,349 shares in the last quarter. AMH Equity Ltd acquired a new position in Ascent Industries during the fourth quarter worth $671,000. HighTower Advisors LLC raised its holdings in Ascent Industries by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 83,231 shares of the company’s stock valued at $931,000 after buying an additional 1,083 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ascent Industries by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 93,322 shares of the company’s stock worth $1,044,000 after buying an additional 1,869 shares during the last quarter. Institutional investors own 26.05% of the company’s stock.

Ascent Industries Stock Down 0.2 %

ACNT opened at $11.05 on Wednesday. The company has a market capitalization of $111.53 million, a PE ratio of -65.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81. Ascent Industries has a fifty-two week low of $8.16 and a fifty-two week high of $12.38. The business has a 50-day moving average of $11.20 and a 200-day moving average of $10.47.

About Ascent Industries

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.