Short Interest in Ascent Industries Co. (NASDAQ:ACNT) Expands By 32.2%

Ascent Industries Co. (NASDAQ:ACNT) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 11,900 shares, a growth 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 currently 0.2 days. Currently, 0.2% of the company’s shares are sold short.

Insider Activity at Ascent Industries

In other Ascent Industries news, insider Privet Fund Management Llc sold 1,665,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $8.22, for a total value of $13,686,300.00. Following the transaction, the insider now directly owns 8,648 shares of the company’s stock, valued at $71,086.56. This represents a 99.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Bryan Kitchen purchased 11,170 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average cost of $8.61 per share, with a total value of $96,173.70. Following the purchase, the chief executive officer now owns 50,841 shares in the company, valued at $437,741.01. This represents a 28.16 % increase in their position. The disclosure for this purchase can be found here. 12.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ascent Industries

A number of large investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC acquired a new stake in shares of Ascent Industries in the third quarter valued at about $132,000. Values Added Financial LLC bought a new stake in shares of Ascent Industries in the third quarter valued at about $133,000. Empowered Funds LLC increased its stake in Ascent Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after acquiring an additional 2,144 shares during the period. De Lisle Partners LLP increased its position in shares of Ascent Industries by 5.5% during the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after purchasing an additional 10,349 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Ascent Industries by 4.3% in the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock valued at $2,616,000 after purchasing an additional 10,688 shares in the last quarter. Institutional investors own 26.05% of the company’s stock.

Ascent Industries Trading Up 0.3 %

Ascent Industries stock opened at $11.66 on Friday. Ascent Industries has a one year low of $7.20 and a one year high of $12.38. The company’s fifty day moving average price is $10.15 and its two-hundred day moving average price is $9.98. 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 company has a market capitalization of $117.65 million, a price-to-earnings ratio of -68.59 and a beta of 0.85.

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.