Shares of Aceto Co. (NASDAQ:ACET) were down 11.3% during mid-day trading on Friday . The stock traded as low as $1.53 and last traded at $1.80. Approximately 996,398 shares traded hands during mid-day trading, an increase of 79% from the average daily volume of 557,466 shares. The stock had previously closed at $2.03.
Separately, ValuEngine raised shares of Aceto from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Five investment analysts have rated the stock with a sell rating, The stock presently has a consensus rating of “Sell” and an average target price of $2.00.
The company has a debt-to-equity ratio of 3.18, a quick ratio of 1.21 and a current ratio of 1.66. The company has a market capitalization of $64.07 million, a PE ratio of 45.00 and a beta of 1.58.
In other Aceto news, Chairman Albert L. Eilender sold 10,700 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were 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 accessible through this hyperlink. In the last three months, insiders sold 32,187 shares of company stock valued at $102,225. 4.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System lifted its stake in Aceto by 25.7% in the first quarter. California Public Employees Retirement System now owns 90,403 shares of the company’s stock worth $687,000 after purchasing an additional 18,503 shares during the last quarter. IndexIQ Advisors LLC raised its stake in shares of Aceto by 7.1% during the second quarter. IndexIQ Advisors LLC now owns 287,814 shares of the company’s stock valued at $964,000 after acquiring an additional 19,078 shares in the last quarter. Laurion Capital Management LP raised its stake in shares of Aceto by 226.0% during the second quarter. Laurion Capital Management LP now owns 44,613 shares of the company’s stock valued at $150,000 after acquiring an additional 30,929 shares in the last quarter. Spark Investment Management LLC bought a new stake in shares of Aceto during the second quarter valued at approximately $116,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Aceto by 21.5% during the third quarter. Janney Montgomery Scott LLC now owns 197,450 shares of the company’s stock valued at $446,000 after acquiring an additional 35,000 shares in the last quarter. 57.47% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This article was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://sportsperspectives.com/2018/11/10/aceto-acet-shares-down-11-3.html.
About Aceto (NASDAQ:ACET)
Aceto Corporation engages in the development, marketing, sale, and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals, and agricultural protection products. The company operates in three segments: Human Health, Pharmaceutical Ingredients, and Performance Chemicals.
Featured Story: Index Funds
Receive News & Ratings for Aceto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aceto and related companies with MarketBeat.com's FREE daily email newsletter.