Short Interest in AdvanSix (NYSE:ASIX) Grows By 20.6%

AdvanSix (NYSE:ASIX) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 789,256 shares, an increase of 20.6% from the January 15th total of 654,537 shares. Based on an average daily volume of 337,287 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.1% of the company’s shares are short sold. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 337,287 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

ASIX has been the subject of several recent research reports. Truist Financial started coverage on AdvanSix in a research note on Thursday, January 15th. They issued a “hold” rating and a $19.00 price target for the company. Wall Street Zen cut AdvanSix from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.67.

AdvanSix Trading Down 3.1%

Shares of ASIX stock traded down $0.58 during trading hours on Tuesday, hitting $18.07. 180,585 shares of the company were exchanged, compared to its average volume of 324,184. The company has a 50 day simple moving average of $17.29 and a two-hundred day simple moving average of $18.28. The firm has a market cap of $485.36 million, a P/E ratio of 9.41 and a beta of 1.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.36. AdvanSix has a fifty-two week low of $14.10 and a fifty-two week high of $31.03.

Institutional Investors Weigh In On AdvanSix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in AdvanSix in the second quarter worth approximately $451,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of AdvanSix by 165.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 413,813 shares of the company’s stock valued at $9,828,000 after acquiring an additional 257,789 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of AdvanSix by 13.1% during the second quarter. Teacher Retirement System of Texas now owns 58,447 shares of the company’s stock worth $1,388,000 after purchasing an additional 6,755 shares during the period. CenterBook Partners LP bought a new position in shares of AdvanSix in the 2nd quarter worth $2,967,000. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of AdvanSix by 19.9% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 116,740 shares of the company’s stock worth $2,773,000 after purchasing an additional 19,370 shares in the last quarter. 86.39% of the stock is owned by institutional investors.

About AdvanSix

AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.