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

Ascent Industries Co. (NASDAQ:ACNT) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 161,922 shares, a decrease of 58.4% from the June 15th total of 389,200 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 173,134 shares, the days-to-cover ratio is currently 0.9 days.

Ascent Industries Stock Performance

Shares of NASDAQ:ACNT opened at $15.12 on Thursday. The firm’s 50 day simple moving average is $14.21 and its 200 day simple moving average is $14.84. Ascent Industries has a fifty-two week low of $11.62 and a fifty-two week high of $17.92. The company has a market capitalization of $136.68 million, a price-to-earnings ratio of 116.32 and a beta of 0.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.69 and a quick ratio of 7.82.

Ascent Industries (NASDAQ:ACNT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter. Ascent Industries had a net margin of 1.54% and a negative return on equity of 4.37%. The firm had revenue of $19.41 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Ascent Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Trading of Ascent Industries

Large investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of Ascent Industries by 66.8% during the 4th quarter. CWM LLC now owns 1,585 shares of the company’s stock valued at $26,000 after purchasing an additional 635 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Ascent Industries by 114.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,937 shares of the company’s stock worth $25,000 after buying an additional 1,033 shares during the period. Strs Ohio lifted its stake in Ascent Industries by 3.2% in the first quarter. Strs Ohio now owns 36,000 shares of the company’s stock valued at $479,000 after buying an additional 1,100 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Ascent Industries by 2.8% in the fourth quarter. Ritholtz Wealth Management now owns 61,437 shares of the company’s stock valued at $995,000 after buying an additional 1,665 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Ascent Industries by 38.2% in the fourth quarter. Deutsche Bank AG now owns 6,626 shares of the company’s stock valued at $107,000 after buying an additional 1,832 shares during the period. Institutional investors own 26.05% of the company’s stock.

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.