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

Ascent Industries Co. (NASDAQ:ACNT) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 5,900 shares, a decrease of 44.9% from the August 15th total of 10,700 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 9,100 shares, the short-interest ratio is currently 0.6 days.

Ascent Industries Stock Performance

NASDAQ ACNT opened at $9.25 on Friday. The company has a market capitalization of $93.61 million, a price-to-earnings ratio of -3.45 and a beta of 0.79. Ascent Industries has a twelve month low of $7.20 and a twelve month high of $11.19. The stock has a fifty day simple moving average of $9.97 and a 200 day simple moving average of $10.15. The company has a quick ratio of 1.45, a current ratio of 3.16 and a debt-to-equity ratio of 0.01.

Ascent Industries (NASDAQ:ACNT) last posted 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 company had revenue of $50.19 million during the quarter.

Institutional Trading of Ascent Industries

A number of large investors have recently bought and sold shares of ACNT. Vanguard Group Inc. grew its holdings in Ascent Industries by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after acquiring an additional 10,688 shares during the period. Perritt Capital Management Inc. grew its holdings in Ascent Industries by 36.0% during the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock worth $208,000 after acquiring an additional 5,402 shares during the period. Victory Capital Management Inc. grew its stake in shares of Ascent Industries by 82.5% in the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock valued at $85,000 after buying an additional 4,004 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Ascent Industries by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock valued at $383,000 after buying an additional 2,800 shares during the period. 26.05% of the stock is currently owned by institutional investors and hedge funds.

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.