Short Interest in Ascent Industries Co. (NASDAQ:ACNT) Increases By 186.6%

Ascent Industries Co. (NASDAQ:ACNT) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 34,100 shares, a growth of 186.6% from the November 30th total of 11,900 shares. Based on an average daily volume of 36,100 shares, the short-interest ratio is presently 0.9 days. Approximately 0.4% of the company’s shares are short sold.

Ascent Industries Stock Up 1.6 %

Ascent Industries stock traded up $0.18 during midday trading on Thursday, hitting $11.19. 24,491 shares of the company’s stock were exchanged, compared to its average volume of 23,630. The firm has a 50-day moving average of $10.44 and a two-hundred day moving average of $10.02. Ascent Industries has a 12 month low of $8.16 and a 12 month high of $12.38. The company has a market cap of $112.94 million, a PE ratio of -65.82 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 3.77.

Insider Activity at Ascent Industries

In related news, VP Ravi Ramesh Srinivas bought 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 $44,840. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ascent Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC purchased a new position in Ascent Industries in the 3rd quarter worth $132,000. Values Added Financial LLC purchased a new position in shares of Ascent Industries in the third quarter worth about $133,000. Empowered Funds LLC lifted its holdings in shares of Ascent Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock worth $414,000 after purchasing an additional 2,144 shares during the period. Finally, De Lisle Partners LLP boosted its position in Ascent Industries by 5.5% in the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after buying an additional 10,349 shares during the last quarter. Hedge funds and other institutional investors own 26.05% of the company’s stock.

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.