Insider Selling: Aceto Director Sells 2,000 Shares of Stock (ACET)
Aceto (NASDAQ:ACET) Director Hans C. Noetzli sold 2,000 shares of Aceto stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $18.63, for a total value of $37,260.00. Following the completion of the sale, the director now directly owns 53,587 shares of the company’s stock, valued at approximately $998,326. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Aceto (NASDAQ:ACET) traded down 0.70% during mid-day trading on Friday, hitting $18.36. The stock had a trading volume of 194,240 shares. Aceto has a 52 week low of $14.28 and a 52 week high of $25.25. The stock has a 50-day moving average of $17.63 and a 200-day moving average of $18.90. The company has a market cap of $527.5 million and a price-to-earnings ratio of 18.27.
A number of research firms have recently commented on ACET. 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.
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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