Ascent Industries Co. (NASDAQ:ACNT) Short Interest Down 26.4% in December

Ascent Industries Co. (NASDAQ:ACNT) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 25,100 shares, a decline of 26.4% from the December 15th total of 34,100 shares. Based on an average trading volume of 38,400 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.3% of the shares of the stock are short sold.

Ascent Industries Stock Performance

Shares of ACNT opened at $11.17 on Thursday. Ascent Industries has a 12-month low of $8.16 and a 12-month high of $12.38. The stock has a market cap of $112.74 million, a P/E ratio of -65.71 and a beta of 0.83. The company has a current ratio of 3.77, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $10.99 and a two-hundred day moving average of $10.16.

Insider Transactions at Ascent Industries

In other Ascent Industries news, VP Ravi Ramesh Srinivas acquired 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $44,840. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.85% of the company’s stock.

Institutional Trading of Ascent Industries

Several institutional investors and hedge funds have recently made changes to their positions in ACNT. Essex Investment Management Co. LLC purchased a new stake in Ascent Industries during the 3rd quarter worth about $132,000. Values Added Financial LLC acquired a new stake in shares of Ascent Industries during the 3rd quarter worth about $133,000. Empowered Funds LLC grew its holdings in shares of 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 buying an additional 2,144 shares in the last quarter. Finally, De Lisle Partners LLP raised its position in shares of Ascent Industries by 5.5% in the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after buying an additional 10,349 shares during the last quarter. 26.05% of the stock is currently owned by hedge funds and other institutional investors.

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.