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

Ascent Industries Co. (NASDAQ:ACNT) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 10,700 shares, an increase of 15.1% from the July 31st total of 9,300 shares. Based on an average daily trading volume, of 11,400 shares, the short-interest ratio is presently 0.9 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Ascent Industries by 4.3% during the 1st 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 during the last quarter. Merit Financial Group LLC boosted its holdings in shares of Ascent Industries by 9.6% during the 4th quarter. Merit Financial Group LLC now owns 56,900 shares of the company’s stock valued at $544,000 after purchasing an additional 5,000 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Ascent Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,620 shares of the company’s stock valued at $383,000 after purchasing an additional 2,800 shares during the last quarter. Perritt Capital Management Inc. boosted its holdings in shares of Ascent Industries by 36.0% during the 1st quarter. Perritt Capital Management Inc. now owns 20,402 shares of the company’s stock valued at $208,000 after purchasing an additional 5,402 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Ascent Industries by 82.5% during the 4th quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock valued at $85,000 after purchasing an additional 4,004 shares during the last quarter. Institutional investors own 26.05% of the company’s stock.

Ascent Industries Price Performance

Shares of ACNT opened at $10.31 on Friday. The firm has a market cap of $104.34 million, a PE ratio of -3.85 and a beta of 0.79. The company has a current ratio of 3.16, a quick ratio of 1.45 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $9.91 and a two-hundred day simple moving average of $10.16. Ascent Industries has a 1-year low of $7.20 and a 1-year high of $11.19.

Ascent Industries (NASDAQ:ACNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter. The company had revenue of $50.19 million during the quarter. Ascent Industries had a negative return on equity of 12.99% and a negative net margin of 6.89%.

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.