Aemetis (NASDAQ:AMTX) Issues Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Aemetis reported a quarterly loss of ($0.41) earnings per share (EPS), missing the consensus estimate of ($0.35) by ($0.06).
• The company generated revenue of $52.24 million, significantly lower than analysts' expectations of $78.68 million.
• Aemetis received a price target upgrade from UBS Group, raising their target from $2.20 to $3.00 and maintaining a "buy" rating.

Aemetis (NASDAQ:AMTX - Get Free Report) released its earnings results on Thursday, August 7th. The specialty chemicals company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06), Zacks reports. The business had revenue of $52.24 million during the quarter, compared to the consensus estimate of $78.68 million.

Aemetis Trading Down 3.6%

Shares of NASDAQ:AMTX traded down $0.10 during midday trading on Thursday, hitting $2.65. 904,630 shares of the stock were exchanged, compared to its average volume of 825,287. The stock has a market cap of $167.59 million, a P/E ratio of -1.64 and a beta of 1.49. Aemetis has a twelve month low of $1.22 and a twelve month high of $4.73. The company has a 50 day moving average price of $2.65 and a 200-day moving average price of $2.05.

Wall Street Analyst Weigh In

AMTX has been the subject of a number of recent analyst reports. UBS Group raised their target price on Aemetis from $2.20 to $3.00 and gave the company a "buy" rating in a report on Monday, June 30th. Ascendiant Capital Markets raised their target price on Aemetis from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, June 6th.

Insider Activity

In other news, Director Francis P. Barton sold 26,452 shares of Aemetis stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $2.53, for a total transaction of $66,923.56. Following the completion of the transaction, the director owned 208,518 shares of the company's stock, valued at $527,550.54. The trade was a 11.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 14.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Aemetis during the 2nd quarter worth about $634,000. Goldman Sachs Group Inc. increased its position in Aemetis by 71.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,404 shares of the specialty chemicals company's stock worth $380,000 after purchasing an additional 91,367 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Aemetis during the 2nd quarter worth about $246,000. Russell Investments Group Ltd. increased its position in Aemetis by 412.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 80,754 shares of the specialty chemicals company's stock worth $200,000 after purchasing an additional 65,010 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Aemetis during the 2nd quarter worth about $64,000. Institutional investors and hedge funds own 27.02% of the company's stock.

About Aemetis

Aemetis, Inc operates as a renewable natural gas and renewable fuels company. It operates through three segments: California Ethanol, California Dairy Renewable Natural Gas, and India Biodiesel. The company focuses on the operation, acquisition, development, and commercialization of technologies to produce low and negative carbon intensity renewable fuels that replace fossil-based products.