The stock of Aceto Corporation (NASDAQ:ACET) hit a new 52-week low and has $17.30 target or 5.00% below today’s $18.21 share price. The 5 months bearish chart indicates high risk for the $541.78M company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $17.30 price target is reached, the company will be worth $27.09 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 52,319 shares traded hands. Aceto Corporation (NASDAQ:ACET) has declined 20.27% since March 30, 2016 and is downtrending. It has underperformed by 23.28% the S&P500.
According to Zacks Investment Research, “Aceto Corporation markets, sells and distributes finished dosage form generics, nutraceutical products, pharmaceutical intermediates and active ingredients, agricultural protection products and specialty chemicals. The company’s operating segment consists of Human Health, Pharmaceutical Ingredients and Performance Chemicals. Human Health segment supplies raw materials used in the production of nutritional and packaged dietary supplements. It markets and distributes its generic prescription and over the counter pharmaceutical products. Pharmaceutical Ingredients segment offers active pharmaceutical ingredients and pharmaceutical intermediates. Performance Chemicals segment provides specialty chemicals. It serves chemical, agricultural, human health and pharmaceutical industries. The company operates primarily in United States, Europe, and Asia. Aceto Corporation and is headquartered in Port Washington, New York.”
Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.62, from 1.48 in 2016Q1. The ratio turned negative, 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.
Meeder Asset holds 0.01% of its portfolio in Aceto Corporation (NASDAQ:ACET) for 3,314 shares. Nomura Inc has 0.01% invested in the company for 73,350 shares. The Virginia-based Motley Fool Asset Ltd has invested 0.98% in Aceto Corporation (NASDAQ:ACET). Moreover, Pinebridge Investments Limited Partnership has 0% invested in Aceto Corporation (NASDAQ:ACET) for 3,752 shares. Mckinley Cap Mngmt Limited Liability Corporation Delaware holds 200 shares or 0% of its portfolio. Teacher Retirement Sys Of Texas holds 0% or 4,132 shares in its portfolio. Bnp Paribas Arbitrage Sa has 9,442 shares for 0% of their US portfolio. Manufacturers Life Insur The has invested 0% of its portfolio in Aceto Corporation (NASDAQ:ACET). The Colorado-based Denver Inv Advsr Ltd Liability Com has invested 0.44% in Aceto Corporation (NASDAQ:ACET). Glenmede Na, a Pennsylvania-based fund reported 102,443 shares. Allianz Asset Ag holds 0% or 193,802 shares in its portfolio. Moreover, Employees Retirement Association Of Colorado has 0.04% invested in Aceto Corporation (NASDAQ:ACET) for 244,247 shares. Nationwide Fund accumulated 20,896 shares or 0% of the stock. Tiaa Cref Mngmt Ltd Llc reported 140,477 shares or 0% of all its holdings. Retail Bank Of America De holds 88,206 shares or 0% of its portfolio.
Insider Transactions: Since May 26, 2016, the stock had 0 buys, and 30 selling transactions for $3.10 million net activity. Srinivasan Satish sold 3,250 shares worth $74,098. EILENDER ALBERT L sold 12,936 shares worth $257,645. $48,160 worth of Aceto Corporation (NASDAQ:ACET) was sold by Kippley Terry. Shares for $154,110 were sold by DEBENEDITTIS FRANK on Monday, June 6. $205,520 worth of Aceto Corporation (NASDAQ:ACET) shares were sold by ROTH DOUGLAS A. Another trade for 18,600 shares valued at $368,615 was made by GUCCIONE SALVATORE J SR on Thursday, September 1. 5,048 shares were sold by Shackley Nicolas I, worth $100,203.
More notable recent Aceto Corporation (NASDAQ:ACET) news were published by: Prnewswire.com which released: “Verdezyne Signs Distribution Agreement With Aceto Corporation” on October 05, 2016, also Fool.com with their article: “Why Shares of Aceto Corporation Plunged 23% Today” published on August 26, 2016, Globenewswire.com published: “ACETO Corporation Schedules Fourth Quarter & Fiscal 2016 Financial Results …” on August 12, 2016. More interesting news about Aceto Corporation (NASDAQ:ACET) were released by: Globenewswire.com and their article: “ACETO Corporation Schedules First Quarter Fiscal 2017 Financial Results News …” published on October 21, 2016 as well as Quotes.Wsj.com‘s news article titled: “News Aceto Corp.ACET” with publication date: February 13, 2011.
ACET Company Profile
Aceto Corporation (Aceto), incorporated on June 13, 1947, 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’s business is organized along product lines into three divisions: Human Health, Pharmaceutical Ingredients and Performance Chemicals. As of June 30, 2016, the Company distributed over 1,100 chemical compounds used primarily as finished products or raw materials in the pharmaceutical, nutraceutical, agricultural, coatings and industrial chemical industries. The Firm has presence in China, Germany, France, The Netherlands, Singapore, India, Hong Kong, Philippines, the United Kingdom and the United States.
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