Aceto Co. (ACET) Short Interest Up 72.2% in September
Aceto Co. (NASDAQ:ACET) saw a large growth in short interest in September. As of September 28th, there was short interest totalling 1,449,517 shares, a growth of 72.2% from the September 14th total of 841,649 shares. Based on an average daily volume of 602,004 shares, the short-interest ratio is currently 2.4 days. Approximately 4.9% of the company’s shares are short sold.
Separately, ValuEngine cut shares of Aceto from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Five investment analysts have rated the stock with a sell rating, The stock presently has a consensus rating of “Sell” and a consensus target price of $2.00.
Shares of Aceto stock opened at $2.21 on Friday. Aceto has a 52-week low of $2.10 and a 52-week high of $11.98. The firm has a market capitalization of $69.58 million, a PE ratio of 56.25 and a beta of 1.66. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.66 and a quick ratio of 1.21.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 9th. Investors of record on Monday, September 24th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 21st. This represents a $0.04 dividend on an annualized basis and a yield of 1.81%. Aceto’s dividend payout ratio is currently 100.00%.
In other news, Chairman Albert L. Eilender sold 10,700 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $3.29, for a total value of $35,203.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 39,187 shares of company stock valued at $124,485 in the last ninety days. 4.10% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. California Public Employees Retirement System raised its holdings in Aceto by 25.7% during the 1st quarter. California Public Employees Retirement System now owns 90,403 shares of the company’s stock valued at $687,000 after buying an additional 18,503 shares during the last quarter. IndexIQ Advisors LLC raised its holdings in Aceto by 7.1% during the 2nd quarter. IndexIQ Advisors LLC now owns 287,814 shares of the company’s stock valued at $964,000 after buying an additional 19,078 shares during the last quarter. Laurion Capital Management LP raised its holdings in Aceto by 226.0% during the 2nd quarter. Laurion Capital Management LP now owns 44,613 shares of the company’s stock valued at $150,000 after buying an additional 30,929 shares during the last quarter. Spark Investment Management LLC bought a new stake in Aceto during the 2nd quarter valued at $116,000. Finally, Jane Street Group LLC bought a new stake in Aceto during the 2nd quarter valued at $147,000. Institutional investors own 57.59% of the company’s stock.
Aceto Company Profile
Aceto Corporation, together with its subsidiaries, sources, markets, sells, and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products, and specialty chemicals. The company operates in three segments: Human Health, Pharmaceutical Ingredients, and Performance Chemicals.
See Also: Outstanding Shares
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