Short Interest in AdvanSix (NYSE:ASIX) Expands By 20.6%

AdvanSix (NYSE:ASIX) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 789,256 shares, an increase of 20.6% from the January 15th total of 654,537 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average trading volume of 337,287 shares, the days-to-cover ratio is presently 2.3 days. Based on an average trading volume of 337,287 shares, the days-to-cover ratio is presently 2.3 days. Approximately 3.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ASIX shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AdvanSix in a research report on Monday, December 29th. Wall Street Zen cut shares of AdvanSix from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Finally, Truist Financial initiated coverage on shares of AdvanSix in a research report on Thursday, January 15th. They set a “hold” rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.67.

AdvanSix Trading Down 1.4%

Shares of AdvanSix stock traded down $0.25 on Wednesday, hitting $17.85. The stock had a trading volume of 72,274 shares, compared to its average volume of 321,101. The stock has a 50 day moving average of $17.33 and a 200 day moving average of $18.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.74 and a current ratio of 1.36. AdvanSix has a twelve month low of $14.10 and a twelve month high of $31.03. The firm has a market capitalization of $479.63 million, a P/E ratio of 9.29 and a beta of 1.72.

Institutional Trading of AdvanSix

Several large investors have recently made changes to their positions in ASIX. Polymer Capital Management US LLC bought a new stake in shares of AdvanSix in the fourth quarter valued at approximately $386,000. Millennium Management LLC purchased a new position in AdvanSix during the 4th quarter valued at about $11,479,000. Inspire Investing LLC increased its stake in shares of AdvanSix by 18.4% during the fourth quarter. Inspire Investing LLC now owns 32,388 shares of the company’s stock valued at $560,000 after buying an additional 5,027 shares during the period. Invenomic Capital Management LP raised its holdings in shares of AdvanSix by 4.4% during the fourth quarter. Invenomic Capital Management LP now owns 326,227 shares of the company’s stock valued at $5,644,000 after acquiring an additional 13,856 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in AdvanSix by 31.1% in the fourth quarter. Engineers Gate Manager LP now owns 21,675 shares of the company’s stock worth $375,000 after acquiring an additional 5,141 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

About AdvanSix

AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co?products. Established as a publicly traded spin?off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.