Ascent Industries Co. (NASDAQ:ACNT) Stock Catapults 29% Though Its Price And Business Still Lag The Industry
Ascent Industries Co. (NASDAQ:ACNT) shares have had a really impressive month, gaining 29% after a shaky period beforehand. The last 30 days bring the annual gain to a very sharp 51%.
Even after such a large jump in price, Ascent Industries’ price-to-sales (or “P/S”) ratio of 0.7x might still make it look like a buy right now compared to the Metals and Mining industry in the United States, where around half of the companies have P/S ratios above 1.2x and even P/S above 5x are quite common. Although, it’s not wise to just take the P/S at face value as there may be an explanation why it’s limited.
Check out our latest analysis for Ascent Industries
