Alto Ingredients (NASDAQ:ALTO) Issues Earnings Results

Key Points

• Alto Ingredients exceeded quarterly expectations, reporting EPS of $0.15 versus the $0.08 consensus estimate and revenue of $245.7 million compared with projections of $231.24 million.
• The stock fell 4.3% to $5.06 during Wednesday trading despite the earnings beat. Alto has a $392.1 million market capitalization, while its shares range between $0.92 and $6.11 over the past year.
• Analyst sentiment remains cautious, with one Buy and two Hold ratings producing a consensus Hold rating and a $10 average price target; meanwhile, a company director bought 20,000 shares at $4.61 each.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07, FiscalAI reports. Alto Ingredients had a net margin of 3.20% and a return on equity of 9.77%. The business had revenue of $245.70 million during the quarter, compared to analyst estimates of $231.24 million.

Alto Ingredients Stock Down 4.3%

NASDAQ:ALTO traded down $0.23 during midday trading on Wednesday, reaching $5.06. 2,355,753 shares of the stock traded hands, compared to its average volume of 1,975,331. The business has a 50-day moving average of $5.30 and a two-hundred day moving average of $4.42. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.54 and a current ratio of 3.81. Alto Ingredients has a 12-month low of $0.92 and a 12-month high of $6.11. The stock has a market capitalization of $392.10 million, a PE ratio of 13.68 and a beta of 0.17.

Insider Activity at Alto Ingredients

In other Alto Ingredients news, Director Gilbert E. Nathan bought 20,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $4.61 per share, for a total transaction of $92,200.00. Following the purchase, the director directly owned 769,741 shares in the company, valued at $3,548,506.01. This represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.28% of the company's stock.

Institutional Trading of Alto Ingredients

Large investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. purchased a new position in shares of Alto Ingredients in the fourth quarter worth $33,000. CreativeOne Wealth LLC acquired a new position in shares of Alto Ingredients in the 4th quarter valued at $46,000. Virtu Financial LLC acquired a new position in shares of Alto Ingredients in the 3rd quarter valued at $52,000. JPMorgan Chase & Co. raised its stake in Alto Ingredients by 2,539,250.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company's stock worth $58,000 after acquiring an additional 50,785 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in Alto Ingredients during the 4th quarter worth about $91,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analyst Ratings Changes

ALTO has been the topic of several research reports. HC Wainwright lifted their price objective on shares of Alto Ingredients from $5.50 to $10.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Zacks Research cut Alto Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Alto Ingredients in a report on Friday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.00.

Alto Ingredients Company Profile

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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