Aceto Corporation (NASDAQ:ACET) Shorted Shares Decreased By 7.36%


The stock of Aceto Corporation (NASDAQ:ACET) registered a decrease of 7.36% in short interest. ACET’s total short interest was 2.41M shares in September as published by FINRA. Its down 7.36% from 2.60M shares, reported previously. With 514,100 shares average volume, it will take short sellers 5 days to cover their ACET’s short positions. The short interest to Aceto Corporation’s float is 8.42%. About 105,708 shares traded hands. Aceto Corporation (NASDAQ:ACET) has declined 9.64% since February 8, 2016 and is downtrending. It has underperformed by 26.13% the S&P500.

Aceto Corporation is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products. The company has a market cap of $540.64 million. The Company’s business is organized along product lines into three divisions: Human Health, Pharmaceutical Ingredients and Performance Chemicals. It has a 15.66 P/E ratio. As of June 30, 2016, it distributed over 1,100 chemical compounds used primarily as finished products or raw materials in the agricultural, coatings and industrial chemical industries.

The institutional sentiment decreased to 0.86 in 2016 Q2. Its down 0.62, from 1.48 in 2016Q1. The ratio fall, as 16 funds sold all Aceto Corporation shares owned while 49 reduced positions. 11 funds bought stakes while 45 increased positions. They now own 23.91 million shares or 7.56% less from 25.86 million shares in 2016Q1.

Hillcrest Asset Management Llc holds 2.2% of its portfolio in Aceto Corporation for 398,882 shares. Ranger Investment Management L.P. owns 1.11 million shares or 1.5% of their US portfolio. Moreover, Motley Fool Asset Management Llc has 0.98% invested in the company for 205,000 shares. The California-based Phocas Financial Corp. has invested 0.81% in the stock. Perritt Capital Management Inc, a Illinois-based fund reported 129,945 shares.

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