Aemetis (NASDAQ:AMTX) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Aemetis shares fell below their 200-day moving average during Friday trading, with the stock trading as low as $1.6650 and last changing hands at $1.6850. The move came alongside heavy volume of about 990,264 shares.
• Recent earnings were disappointing: Aemetis reported a quarterly loss of $0.33 per share, wider than analysts expected, and revenue of $54.62 million, well below consensus estimates. Analysts now project a full-year loss of $1.11 per share.
• Wall Street sentiment is mixed to cautious, with one analyst rating the stock a buy, while others have issued sell ratings. Despite that, MarketBeat data shows an average rating of “Hold” and a consensus price target of $11.88.

Aemetis, Inc (NASDAQ:AMTX - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.06 and traded as low as $1.6650. Aemetis shares last traded at $1.6850, with a volume of 990,264 shares changing hands.

Analyst Upgrades and Downgrades

AMTX has been the subject of a number of research reports. Wall Street Zen cut shares of Aemetis from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Ascendiant Capital Markets lifted their price target on shares of Aemetis from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Aemetis in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.88.

Aemetis Stock Down 8.9%

The firm has a 50 day moving average price of $1.97 and a 200 day moving average price of $2.06. The stock has a market cap of $118.57 million, a P/E ratio of -1.42 and a beta of 1.44.

Aemetis (NASDAQ:AMTX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The specialty chemicals company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.06). The company had revenue of $54.62 million during the quarter, compared to the consensus estimate of $66.70 million. Equities analysts predict that Aemetis, Inc will post -1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aemetis

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Aemetis by 148.3% in the first quarter. Bank of America Corp DE now owns 101,486 shares of the specialty chemicals company's stock worth $324,000 after purchasing an additional 60,611 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Aemetis by 10,632.5% during the 1st quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 8,825 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Aemetis during the 1st quarter valued at $272,000. Sanctuary Advisors LLC bought a new position in Aemetis in the 1st quarter worth $33,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in Aemetis in the 1st quarter worth $117,000. Hedge funds and other institutional investors own 27.02% of the company's stock.

Aemetis Company Profile

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.

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