Ascent Industries (NASDAQ:ACNT) Releases Earnings Results

Ascent Industries (NASDAQ:ACNT) released its quarterly earnings data on Tuesday. The company reported $0.01 earnings per share for the quarter, Zacks reports. The company had revenue of $40.67 million during the quarter. Ascent Industries had a negative net margin of 0.80% and a negative return on equity of 12.48%.

Ascent Industries Trading Up 4.8 %

ACNT opened at $11.58 on Thursday. The company has a market cap of $116.88 million, a P/E ratio of -68.12 and a beta of 0.83. The company has a fifty day moving average price of $11.21 and a two-hundred day moving average price of $10.47. The company has a current ratio of 3.77, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Ascent Industries has a 1-year low of $8.16 and a 1-year high of $12.38.

Insider Activity

In other news, VP Ravi Ramesh Srinivas purchased 4,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $11.21 per share, for a total transaction of $44,840.00. Following the completion of the acquisition, the vice president now owns 4,000 shares in the company, valued at approximately $44,840. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.85% of the stock is currently owned by company insiders.

Ascent Industries Company Profile

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.