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 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 trading volume of 6,400 shares, the short-interest ratio is presently 1.4 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of Ascent Industries

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Ascent Industries by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 246,048 shares of the company’s stock valued at $2,352,000 after acquiring an additional 8,784 shares in the last quarter. Perritt Capital Management Inc. acquired a new stake in shares of Ascent Industries in the fourth quarter valued at $143,000. Northern Trust Corp increased its holdings in Ascent Industries by 57.0% in the fourth quarter. Northern Trust Corp now owns 26,573 shares of the company’s stock valued at $254,000 after buying an additional 9,646 shares during the last quarter. Merit Financial Group LLC increased its holdings in Ascent Industries by 9.6% in the fourth quarter. Merit Financial Group LLC now owns 56,900 shares of the company’s stock valued at $544,000 after buying an additional 5,000 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Ascent Industries by 82.5% in the fourth quarter. Victory Capital Management Inc. now owns 8,857 shares of the company’s stock valued at $85,000 after buying an additional 4,004 shares during the last quarter. 26.05% of the stock is currently owned by institutional investors and hedge funds.

Ascent Industries Stock Down 1.5 %

Shares of NASDAQ ACNT opened at $10.30 on Tuesday. The stock has a market cap of $104.24 million, a P/E ratio of -3.89 and a beta of 0.73. The company has a current ratio of 3.61, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. Ascent Industries has a 12-month low of $7.20 and a 12-month high of $11.19. The business’s fifty day simple moving average is $10.36 and its 200-day simple moving average is $9.34.

About Ascent Industries

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.