Aceto Corporation (Nasdaq:ACET)
February 21st, 2019
Amidst falling markets Aceto Corporation finished Thursday’s trading session down 9.60%, a ($0.03) decrease to close on $0.32. Aceto Corporation bounced 33.33% between low and high. As well as the drop in value, Aceto Corporation hit a new 52 week low of $0.24. Despite the drop in value, trading volumes were solid at 787.00% of normal which can indicate investor opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -0.61.
The market sectors were mixed Thursday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.75%), while Energy saw the biggest drop (-1.55%). Industrials has seen the biggest year-to-date gain at 17.76%.
Energy and Healthcare experienced turn arounds from their five day positive performance, Energy with a drop of -1.55%.
- Utilities went up with a 0.75% change.
- Consumer Staples went up with a 0.28% change.
- Real Estate went up with a 0.14% change.
- Information Technology went up with a 0.05% change.
- Consumer Discretionary went down with a -0.20% change.
- Industrials went down with a -0.41% change.
- Materials went down with a -0.41% change.
- Financials went down with a -0.45% change.
- Communication Services went down with a -0.63% change.
- Healthcare went down with a -0.88% change.
- Energy went down with a -1.55% change.
Aceto Corporation Info
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. The Human Health segment supplies raw materials used in the production of nutritional and packaged dietary supplements, including vitamins, amino acids, iron compounds, and biochemicals used in pharmaceutical and nutritional preparations. This segment is also involved in developing and marketing generic pharmaceutical products. It sells its generic prescription and over-the-counter pharmaceutical products to wholesalers, chain drug stores, distributors, and mass merchandisers. The Pharmaceutical Ingredients segment offers active pharmaceutical ingredients and pharmaceutical intermediates to various generic drug companies. The Performance Chemicals segment provides specialty chemicals for use in the manufacture of plastics, surface coatings, cosmetics and personal care, textiles, and fuels and lubricants, as well as for food, flavor, paper, and film industries; dye and pigment intermediates used in the color-producing industries; and organic intermediates used in the production of agrochemicals. Its raw materials are also used in electronic parts for photo tooling, circuit boards, and production of computer chips. This segment also offers agricultural protection products comprising herbicides, fungicides, and insecticides, which control weed growth and the spread of insects and microorganisms; and sprout inhibitors for potatoes. The company serves various companies in the industrial chemical, agricultural, and human health and pharmaceutical industries primarily in the United States, Europe, and Asia. Aceto Corporation was founded in 1947 and is headquartered in Port Washington, New York.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Aceto Corporation’s score is -0.61) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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