Short Interest in Ascent Industries Co. (NASDAQ:ACNT) Decreases By 10.8%

Ascent Industries Co. (NASDAQ:ACNT) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 9,100 shares, a drop of 10.8% from the March 15th total of 10,200 shares. Based on an average daily volume of 6,400 shares, the short-interest ratio is currently 1.4 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Trading of Ascent Industries

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP acquired a new position in shares of Ascent Industries during the 1st quarter valued at $4,157,000. Boothbay Fund Management LLC acquired a new position in shares of Ascent Industries during the fourth quarter valued at about $804,000. HighTower Advisors LLC bought a new position in shares of Ascent Industries during the 1st quarter worth about $820,000. Morgan Stanley acquired a new stake in shares of Ascent Industries in the 4th quarter valued at about $239,000. Finally, Perritt Capital Management Inc. bought a new stake in Ascent Industries in the 4th quarter valued at about $143,000. Institutional investors and hedge funds own 26.05% of the company’s stock.

Ascent Industries Trading Down 2.1 %

Shares of ACNT stock opened at $10.46 on Monday. Ascent Industries has a fifty-two week low of $7.20 and a fifty-two week high of $11.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.50 and a current ratio of 3.61. The stock has a 50 day simple moving average of $10.35 and a two-hundred day simple moving average of $9.33. The company has a market cap of $105.86 million, a P/E ratio of -3.95 and a beta of 0.73.

Ascent Industries Company Profile

Ascent Industries Co an industrials company, focuses on the production and distribution of industrial tubular products 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 galvanized carbon tubes, as well as related stainless pipe products.