Alto Ingredients, Inc. (NASDAQ:ALTO – Get Free Report) shares were up 0.6% during trading on Friday. The company traded as high as $3.64 and last traded at $3.61. 801,824 shares changed hands during trading, a decline of 18% from the average session volume of 983,730 shares. The stock had previously closed at $3.59.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Scotiabank set a $10.00 price target on Alto Ingredients in a research note on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Alto Ingredients in a report on Friday, July 31st. Zacks Research downgraded shares of Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. HC Wainwright reiterated a “buy” rating on shares of Alto Ingredients in a research note on Thursday, August 6th. Finally, Benchmark upgraded shares of Alto Ingredients to a “strong-buy” rating in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.00.
Read Our Latest Research Report on Alto Ingredients
Alto Ingredients Price Performance
The stock has a market capitalization of $280.03 million, a P/E ratio of 5.39 and a beta of 0.14. The business has a fifty day simple moving average of $3.88 and a 200 day simple moving average of $4.66. The company has a current ratio of 3.19, a quick ratio of 2.17 and a debt-to-equity ratio of 0.23.
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $245.70 million during the quarter, compared to the consensus estimate of $231.24 million. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. On average, analysts expect that Alto Ingredients, Inc. will post 0.39 earnings per share for the current year.
Insiders Place Their Bets
In other Alto Ingredients news, Director Gilbert Nathan acquired 50,000 shares of Alto Ingredients stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $207,500.00. Following the purchase, the director owned 856,393 shares of the company’s stock, valued at approximately $3,554,030.95. This represents a 6.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.28% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Alto Ingredients in the second quarter worth about $31,322,000. Hillsdale Investment Management Inc. increased its holdings in Alto Ingredients by 590.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock valued at $4,843,000 after purchasing an additional 855,703 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alto Ingredients during the 2nd quarter valued at about $4,878,000. Arrowstreet Capital Limited Partnership raised its position in Alto Ingredients by 67.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock valued at $8,665,000 after purchasing an additional 723,996 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Alto Ingredients by 1,441.7% during the 1st quarter. Bank of America Corp DE now owns 550,294 shares of the company’s stock valued at $2,663,000 after purchasing an additional 514,600 shares during the last quarter. 42.44% of the stock is owned by institutional investors.
About Alto Ingredients
Alto Ingredients, Inc (NASDAQ:ALTO) is a renewable fuels and specialty ingredients company that produces low-carbon ethanol and other products derived primarily from corn. Its ethanol is used as a transportation fuel and as a blending component in gasoline, while the company’s operations support markets focused on renewable energy and lower-carbon fuel alternatives.
In addition to ethanol, Alto Ingredients produces and markets co-products such as dried distillers grains, wet distillers grains and renewable corn oil.
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