Short Interest in Aceto Drops By 19.3% (ACET)
Shares of Aceto (NASDAQ:ACET) were the recipient of a large decrease in short interest during the month of May. As of May 30th, there was short interest totalling 1,053,132 shares, a decrease of 19.3% from the May 15th total of 1,304,565 shares, Analyst Ratings.Net reports. Based on an average daily volume of 396,582 shares, the short-interest ratio is presently 2.7 days. Currently, 3.9% of the company’s stock are sold short.
In other Aceto news, VP Steven Rogers sold 2,333 shares of Aceto stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $17.58, for a total value of $41,014.14. The transaction was disclosed in a document filed with the SEC, which is available at this link.
ACET has been the subject of a number of recent research reports. Analysts at Singular Research cut their price target on shares of Aceto from $24.00 to $22.00 in a research note on Tuesday, May 20th. They now have a “buy” rating on the stock. Analysts at Sidoti upgraded shares of Aceto from a “neutral” rating to a “buy” rating in a research note on Monday, May 19th.
Shares of Aceto (NASDAQ:ACET) opened at 17.24 on Friday. Aceto has a 52-week low of $12.62 and a 52-week high of $25.25. The stock has a 50-day moving average of $18.50 and a 200-day moving average of $20.35. The company has a market cap of $495.3 million and a price-to-earnings ratio of 17.24.
Aceto (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.09. The company had revenue of $124.83 million for the quarter, compared to the consensus estimate of $136.70 million. The company’s quarterly revenue was down 17.3% on a year-over-year basis. On average, analysts predict that Aceto will post $1.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Investors of record on Thursday, June 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, June 10th.
Aceto Corporation (NASDAQ:ACET) is primarily engaged in the sourcing, regulatory support, quality assurance, marketing, sales and distribution of pharmaceutical intermediates and active ingredients, finished dosage form generics, nutraceutical products, agricultural protection products and specialty chemicals used principally as finished products or raw materials in the pharmaceutical, nutraceutical, agricultural, coatings and industrial chemical consuming industries.
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