Short Interest in AdvanSix (NYSE:ASIX) Grows By 20.6%

AdvanSix (NYSE:ASIX) was the recipient of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 789,256 shares, an increase of 20.6% from the January 15th total of 654,537 shares. Based on an average trading volume of 337,287 shares, the short-interest ratio is currently 2.3 days. Approximately 3.1% of the shares of the stock are sold short. Approximately 3.1% of the shares of the stock are sold short. Based on an average trading volume of 337,287 shares, the short-interest ratio is currently 2.3 days.

Institutional Investors Weigh In On AdvanSix

A number of hedge funds and other institutional investors have recently bought and sold shares of ASIX. Osaic Holdings Inc. raised its position in AdvanSix by 60.2% in the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after purchasing an additional 483 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AdvanSix by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after buying an additional 604 shares during the last quarter. Sheets Smith Wealth Management boosted its position in AdvanSix by 3.8% during the 4th quarter. Sheets Smith Wealth Management now owns 17,878 shares of the company’s stock worth $309,000 after buying an additional 659 shares during the period. The Manufacturers Life Insurance Company grew its holdings in AdvanSix by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,862 shares of the company’s stock worth $234,000 after acquiring an additional 746 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its position in AdvanSix by 8.8% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,576 shares of the company’s stock valued at $257,000 after acquiring an additional 1,022 shares during the period. Institutional investors own 86.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ASIX shares. Wall Street Zen lowered AdvanSix from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a research report on Monday, December 29th. Finally, Truist Financial initiated coverage on shares of AdvanSix in a report on Thursday, January 15th. They issued a “hold” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.67.

AdvanSix Price Performance

NYSE:ASIX traded down $0.58 on Tuesday, hitting $18.07. The company had a trading volume of 180,585 shares, compared to its average volume of 324,184. The stock has a market capitalization of $485.36 million, a price-to-earnings ratio of 9.41 and a beta of 1.73. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $17.29 and a two-hundred day moving average of $18.28. AdvanSix has a 52 week low of $14.10 and a 52 week high of $31.03.

About AdvanSix

AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.