AMCON Distributing (NYSEAMERICAN:DIT) Sees Significant Drop in Short Interest

AMCON Distributing (NYSEAMERICAN:DIT) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,300 shares, a drop of 18.8% from the March 15th total of 1,600 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 300 shares, the days-to-cover ratio is currently 4.3 days.

AMCON Distributing Stock Up 5.9 %

Shares of DIT stock traded up $6.53 during trading hours on Friday, hitting $117.50. 1,069 shares of the company’s stock traded hands, compared to its average volume of 316. The company has a quick ratio of 0.91, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The stock has a market cap of $76.38 million, a price-to-earnings ratio of 16.39 and a beta of 0.57. The stock’s fifty day simple moving average is $126.47 and its two-hundred day simple moving average is $130.69. AMCON Distributing has a 12-month low of $99.87 and a 12-month high of $183.50.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on AMCON Distributing in a report on Tuesday, April 15th. They set a “hold” rating for the company.

AMCON Distributing Company Profile

AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.