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ACET stands for Aceto Corporation. It is a public company that is listed on thebulletin board (OTCBB) of the financial market, under the ticker symbol "ACET". The company has a market capitalization of $44.97 million, with an average volume of 12,495 shares traded daily over the past 3 months. The company's stock price has been fluctuating between $1.30 and $3.50 over the past 52 weeks.
Aceto Corporation is a chemical company that specializes in the development, production, and sales of specialty chemicals for various industries such as agriculture, coating, flavors & fragrances, detergent, food, and pharmaceutical sectors. The company was founded in 1977 and is headquartered in Lake Success, New York.
In terms of earnings, ACET's revenue for the third quarter of 2022 was $23.7 million, representing a decline of 26% compared to the same period in the previous year. The net loss for the quarter was $2.3 million, and the loss per share was $0.32. The company's gross profit margin for the quarter was 28.3%, and the operating margin was -10.4%.
In 2022, the company's earnings have been impacted by economic and supply chain challenges, including COVID-19, global geopolitical tensions, rising raw material costs, and extended supply chains. However, the company plans to invest in new growth initiatives and expand its business to improve performance and profitability.
Aceto Corporation does not pay dividends on its common stock.
In summary, ACET is a small-cap public company in the chemical industry with a market capitalization of $44.97 million. Its stock trades on the OTCBB and has experienced significant price fluctuations over the past year. The company has faced challenges in its profitability due to the economic and supply chain issues, but it aims to invest in growth initiatives to improve its performance. However, it does not pay dividends to its shareholders.