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

AdvanSix (NYSE:ASIX) was the recipient of a significant increase in short interest in 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. Based on an average daily volume of 337,287 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.1% of the company’s shares are sold short. Currently, 3.1% of the company’s shares are sold short. Based on an average daily volume of 337,287 shares, the days-to-cover ratio is presently 2.3 days.

AdvanSix Trading Down 1.2%

Shares of NYSE ASIX opened at $17.89 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $17.35 and its two-hundred day moving average price is $18.27. AdvanSix has a 52-week low of $14.10 and a 52-week high of $31.03. The stock has a market capitalization of $480.39 million, a P/E ratio of 9.32 and a beta of 1.72.

Hedge Funds Weigh In On AdvanSix

Several large investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AdvanSix during the 4th quarter worth approximately $246,000. Empowered Funds LLC boosted its position in AdvanSix by 10.8% during the 4th quarter. Empowered Funds LLC now owns 144,284 shares of the company’s stock valued at $2,496,000 after purchasing an additional 14,084 shares during the period. XTX Topco Ltd bought a new position in AdvanSix during the 4th quarter worth $443,000. Tudor Investment Corp ET AL acquired a new stake in AdvanSix in the fourth quarter worth $984,000. Finally, Polymer Capital Management US LLC acquired a new stake in AdvanSix in the fourth quarter worth $386,000. 86.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdvanSix in a report on Monday, December 29th. Truist Financial began coverage on AdvanSix in a research note on Thursday, January 15th. They set a “hold” rating and a $19.00 price objective for the company. Finally, Wall Street Zen lowered AdvanSix from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.67.

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.