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

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 11,900 shares, an increase of 32.2% from the November 15th total of 9,000 shares. Based on an average daily volume of 61,400 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the stock are short sold.

Ascent Industries Price Performance

ACNT traded up $0.04 on Friday, reaching $11.66. 19,461 shares of the company's stock were exchanged, compared to its average volume of 23,138. Ascent Industries has a twelve month low of $7.20 and a twelve month high of $12.38. The stock has a market cap of $117.65 million, a PE ratio of -68.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81. The stock's fifty day moving average price is $10.11 and its 200-day moving average price is $9.97.

Insider Activity

In other news, CEO John Bryan Kitchen acquired 11,170 shares of the firm's stock in a transaction on Friday, September 20th. The shares were bought at an average price of $8.61 per share, for a total transaction of $96,173.70. Following the acquisition, the chief executive officer now owns 50,841 shares of the company's stock, valued at approximately $437,741.01. This trade represents a 28.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Privet Fund Management Llc sold 1,665,000 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $8.22, for a total transaction of $13,686,300.00. Following the sale, the insider now directly owns 8,648 shares of the company's stock, valued at $71,086.56. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.85% of the company's stock.

Institutional Investors Weigh In On Ascent Industries

Several hedge funds and other institutional investors have recently made changes to their positions in ACNT. Essex Investment Management Co. LLC acquired a new stake in Ascent Industries during the third quarter worth about $132,000. Values Added Financial LLC acquired a new stake in shares of Ascent Industries during the 3rd quarter worth approximately $133,000. Empowered Funds LLC raised its position 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 valued at $414,000 after buying an additional 2,144 shares during the period. De Lisle Partners LLP lifted 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 valued at $1,914,000 after acquiring an additional 10,349 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Ascent Industries by 4.3% in the first 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. Institutional investors and hedge funds 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.