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Christopher Gerald Hutter, a director at Ascent Industries Co. (NASDAQ:ACNT), recently sold a significant portion of the company’s common stock. According to a filing with the Securities and Exchange Commission, Hutter sold a total of 13,040 shares over two days, amounting to approximately $176,004. The sale comes as ACNT trades near its 52-week high of $13.70, with the stock showing strong momentum, up nearly 16% year-to-date.
On June 10, Hutter sold 4,740 shares at a weighted average price of $13.58 per share. The following day, he sold an additional 8,300 shares at a weighted average price of $13.45 per share. The transactions were executed within price ranges of $13.55 to $13.63 and $13.28 to $13.50, respectively. According to InvestingPro analysis, ACNT demonstrates strong financial health with a robust current ratio of 2.95, indicating solid liquidity.
Following these transactions, Hutter holds 378,959 shares of Ascent Industries through a revocable trust. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers this $129 million market cap company among 1,400+ top US stocks.
In other recent news, Ascent Industries Co. reported a significant miss in its Q1 2025 earnings, with an earnings per share (EPS) of -$0.23, falling short of the forecasted $0.12. Despite the earnings shortfall, the company managed to improve its gross margin to 19.3% from 8.3% in the previous year, although net sales declined to $24.7 million from $28 million in Q1 2024. In a strategic move, Ascent Industries executed a buyback of 499,700 shares of its common stock under its existing repurchase program, representing approximately 5% of its outstanding shares. Additionally, Ascent Industries appointed Baker Tilly US, LLP as its new independent registered public accounting firm after its previous auditor, Moss Adams LLP, merged with Baker Tilly. The audit reports for the fiscal years ending December 31, 2024, and 2023, did not contain any adverse opinions or modifications. These developments are part of Ascent Industries’ ongoing efforts to manage its financial health and strategic direction. The company continues to focus on operational efficiency and leveraging its capital for growth and shareholder value.
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