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

AMCON Distributing (NYSEAMERICAN:DIT) was the target of a significant 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. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 300 shares, the days-to-cover ratio is presently 4.3 days.

AMCON Distributing Stock Up 5.9 %

AMCON Distributing stock traded up $6.53 during trading hours on Friday, reaching $117.50. The stock had a trading volume of 1,069 shares, compared to its average volume of 316. The company has a market cap of $76.38 million, a price-to-earnings ratio of 16.39 and a beta of 0.57. The business’s 50 day moving average price is $126.47 and its 200-day moving average price is $130.69. AMCON Distributing has a 52 week low of $99.87 and a 52 week high of $183.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 0.91.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of AMCON Distributing in a research note on Tuesday, April 15th. They set a “hold” rating for the company.

About AMCON Distributing

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.