Aceto (ACET) Stock Price Down 15.5%
Aceto Co. (NASDAQ:ACET) shares fell 15.5% on Wednesday . The company traded as low as $2.38 and last traded at $2.39. 1,862,000 shares changed hands during mid-day trading, an increase of 246% from the average session volume of 538,718 shares. The stock had previously closed at $2.83.
Separately, ValuEngine upgraded Aceto from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus price target of $2.00.
The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.63. The firm has a market cap of $89.90 million, a price-to-earnings ratio of 2.16 and a beta of 1.63.
In other Aceto news, Chairman Albert L. Eilender sold 10,700 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $3.29, for a total value of $35,203.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 43,174 shares of company stock valued at $144,377 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. LMR Partners LLP acquired a new stake in shares of Aceto in the 2nd quarter worth $268,000. California Public Employees Retirement System increased its stake in shares of Aceto by 25.7% in the 1st quarter. California Public Employees Retirement System now owns 90,403 shares of the company’s stock worth $687,000 after acquiring an additional 18,503 shares during the last quarter. BlackRock Inc. increased its stake in shares of Aceto by 1.2% in the 1st quarter. BlackRock Inc. now owns 4,087,319 shares of the company’s stock worth $31,064,000 after acquiring an additional 47,742 shares during the last quarter. KBC Group NV increased its stake in shares of Aceto by 34.7% in the 1st quarter. KBC Group NV now owns 71,209 shares of the company’s stock worth $541,000 after acquiring an additional 18,355 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new stake in shares of Aceto in the 2nd quarter worth $116,000. 57.59% of the stock is owned by institutional investors and hedge funds.
Aceto Company Profile (NASDAQ:ACET)
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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