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

Ascent Industries Co. (NASDAQ:ACNT - Get Free Report) saw a significant decrease in short interest in February. As of February 15th, there was short interest totalling 28,700 shares, a decrease of 31.7% from the January 31st total of 42,000 shares. Approximately 0.4% of the company's shares are short sold. Based on an average daily volume of 28,800 shares, the days-to-cover ratio is presently 1.0 days.

Ascent Industries Stock Performance

NASDAQ ACNT traded up $0.53 during trading hours on Wednesday, reaching $11.58. The stock had a trading volume of 30,703 shares, compared to its average volume of 26,245. Ascent Industries has a 52-week low of $8.16 and a 52-week high of $12.38. The stock has a fifty day moving average of $11.20 and a 200 day moving average of $10.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77. The stock has a market cap of $116.88 million, a P/E ratio of -68.12 and a beta of 0.83.

Ascent Industries (NASDAQ:ACNT - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $40.67 million for the quarter. Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%.

Insider Buying and Selling

In other Ascent Industries news, VP Ravi Ramesh Srinivas purchased 4,000 shares of Ascent Industries stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $11.21 per share, with a total value of $44,840.00. Following the completion of the transaction, the vice president now owns 4,000 shares in the company, valued at approximately $44,840. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Ascent Industries

Several hedge funds have recently modified their holdings of the company. Mink Brook Asset Management LLC purchased a new stake in shares of Ascent Industries during the fourth quarter worth approximately $11,142,000. AMH Equity Ltd acquired a new position in Ascent Industries in the fourth quarter valued at about $671,000. Renaissance Technologies LLC boosted its stake in Ascent Industries by 37.4% during the fourth quarter. Renaissance Technologies LLC now owns 153,500 shares of the company's stock worth $1,716,000 after buying an additional 41,809 shares during the period. Millennium Management LLC acquired a new stake in shares of Ascent Industries during the fourth quarter valued at about $208,000. Finally, Northern Trust Corp raised its stake in shares of Ascent Industries by 47.7% in the 4th quarter. Northern Trust Corp now owns 35,384 shares of the company's stock valued at $396,000 after acquiring an additional 11,420 shares during the period. 26.05% of the stock is owned by hedge funds and other institutional investors.

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.