Alto Ingredients, Inc. (NASDAQ:ALTO – Get Free Report) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 2,291,177 shares, an increase of 57.6% from the May 14th total of 1,454,213 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily volume of 2,222,577 shares, the short-interest ratio is currently 1.0 days.
Alto Ingredients Trading Down 2.8%
NASDAQ ALTO opened at $5.54 on Tuesday. Alto Ingredients has a 12 month low of $0.92 and a 12 month high of $5.99. The stock has a market cap of $429.29 million, a P/E ratio of 14.97 and a beta of 0.13. The stock’s fifty day moving average price is $5.08 and its 200-day moving average price is $3.78. The company has a current ratio of 3.81, a quick ratio of 2.54 and a debt-to-equity ratio of 0.29.
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.13. Alto Ingredients had a return on equity of 9.77% and a net margin of 3.20%.The firm had revenue of $224.68 million for the quarter, compared to analysts’ expectations of $215.65 million. As a group, equities analysts forecast that Alto Ingredients will post 0.54 EPS for the current fiscal year.
Wall Street Analyst Weigh In
View Our Latest Stock Report on ALTO
Insiders Place Their Bets
In other news, Director Gilbert E. Nathan purchased 20,000 shares of Alto Ingredients stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $4.61 per share, with a total value of $92,200.00. Following the completion of the purchase, the director directly owned 769,741 shares in the company, valued at approximately $3,548,506.01. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.28% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alto Ingredients
A number of institutional investors have recently modified their holdings of ALTO. Peapod Lane Capital LLC boosted its position in shares of Alto Ingredients by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 1,244,198 shares of the company’s stock valued at $3,583,000 after buying an additional 9,074 shares during the last quarter. Corsair Capital Management L.P. boosted its position in shares of Alto Ingredients by 4.0% during the first quarter. Corsair Capital Management L.P. now owns 260,200 shares of the company’s stock valued at $1,259,000 after buying an additional 10,000 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Alto Ingredients by 36.8% during the first quarter. Hsbc Holdings PLC now owns 37,471 shares of the company’s stock valued at $183,000 after buying an additional 10,070 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Alto Ingredients during the first quarter valued at $49,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Alto Ingredients during the fourth quarter valued at $33,000. 42.44% of the stock is owned by hedge funds and other institutional investors.
About Alto Ingredients
Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.
Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.
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