Aceto Co. (NASDAQ:ACET) was down 15.5% during trading on Wednesday . The company traded as low as $2.38 and last traded at $2.39. Approximately 1,862,000 shares changed hands during trading, an increase of 246% from the average daily volume of 538,718 shares. The stock had previously closed at $2.83.
Separately, ValuEngine raised shares of Aceto from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Aceto currently has a consensus rating of “Sell” and an average price target of $2.00.
The stock has a market cap of $89.90 million, a PE ratio of 2.16 and a beta of 1.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.12 and a quick ratio of 0.80.
In other news, Chairman Albert L. Eilender sold 10,700 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $3.29, for a total transaction of $35,203.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 43,174 shares of company stock worth $144,377 in the last quarter. Insiders own 4.10% of the company’s stock.
Several large investors have recently made changes to their positions in ACET. Renaissance Technologies LLC lifted its position in shares of Aceto by 310.1% during the 2nd quarter. Renaissance Technologies LLC now owns 505,600 shares of the company’s stock valued at $1,694,000 after buying an additional 382,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Aceto by 105.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 401,338 shares of the company’s stock valued at $1,344,000 after buying an additional 205,838 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Aceto during the 1st quarter valued at approximately $1,322,000. Citadel Advisors LLC lifted its position in shares of Aceto by 66.9% during the 1st quarter. Citadel Advisors LLC now owns 425,616 shares of the company’s stock valued at $3,235,000 after buying an additional 170,560 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Aceto during the 2nd quarter valued at approximately $488,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.
About Aceto (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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