Aceto Co. (ACET) Short Interest Up 72.2% in September

Aceto Co. (NASDAQ:ACET) was the target of a large growth in short interest in the month of 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 trading volume of 602,004 shares, the short-interest ratio is currently 2.4 days. Currently, 4.9% of the shares of the stock are sold short.

ACET stock opened at $2.21 on Friday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.66 and a quick ratio of 1.21. Aceto has a one year low of $2.10 and a one year high of $11.98. The company has a market capitalization of $69.58 million, a price-to-earnings ratio of 56.25 and a beta of 1.66.

Aceto (NASDAQ:ACET) last released its quarterly earnings results on Friday, September 28th. The company reported ($0.48) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.44). Aceto had a positive return on equity of 0.55% and a negative net margin of 34.41%. The company had revenue of $168.88 million during the quarter.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 9th. Shareholders of record on Monday, September 24th were paid a $0.01 dividend. 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 presently 100.00%.

Separately, ValuEngine lowered shares of Aceto from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Five analysts have rated the stock with a sell rating, The company has an average rating of “Sell” and a consensus price target of $2.00.

In related news, Chairman Albert L. Eilender sold 10,700 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $3.29, for a total transaction of $35,203.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 39,187 shares of company stock worth $124,485 in the last ninety days. 4.10% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in ACET. Renaissance Technologies LLC grew its stake in Aceto by 310.1% in the 2nd quarter. Renaissance Technologies LLC now owns 505,600 shares of the company’s stock worth $1,694,000 after buying an additional 382,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Aceto by 105.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 401,338 shares of the company’s stock worth $1,344,000 after buying an additional 205,838 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Aceto in the 1st quarter worth approximately $1,322,000. Paloma Partners Management Co purchased a new position in Aceto in the 2nd quarter worth approximately $488,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Aceto in the 2nd quarter worth approximately $297,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.

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