Alto Ingredients (NASDAQ:ALTO) Shares Down 2.9% - Here's What Happened

Key Points

• Alto Ingredients' stock price fell by 2.9%, trading at $1.01 with a decrease in volume, indicating potential concern among investors.
• The company reported a quarterly earnings per share (EPS) of -$0.16, which missed analyst expectations, yet revenue exceeded estimates at $226.54 million.
• Institutional investors hold 42.44% of Alto Ingredients, with Peapod Lane Capital LLC notably increasing its stake by 29.6% in Q2.

Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) was down 2.9% on Thursday . The company traded as low as $1.01 and last traded at $1.01. Approximately 150,790 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 178,730 shares. The stock had previously closed at $1.04.

Alto Ingredients Stock Up 0.5%

The company has a current ratio of 2.89, a quick ratio of 1.94 and a debt-to-equity ratio of 0.52. The company has a market cap of $80.82 million, a price-to-earnings ratio of -1.29 and a beta of 0.61. The stock has a 50-day simple moving average of $1.12 and a 200-day simple moving average of $1.20.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). Alto Ingredients had a negative net margin of 6.20% and a negative return on equity of 14.40%. The business had revenue of $226.54 million for the quarter, compared to analyst estimates of $222.19 million. As a group, analysts predict that Alto Ingredients, Inc. will post -0.37 EPS for the current year.

Institutional Trading of Alto Ingredients

A number of institutional investors have recently modified their holdings of the company. Peapod Lane Capital LLC grew its position in shares of Alto Ingredients by 29.6% in the second quarter. Peapod Lane Capital LLC now owns 1,221,842 shares of the company's stock valued at $1,405,000 after purchasing an additional 279,417 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Alto Ingredients by 8.5% in the first quarter. Empowered Funds LLC now owns 275,552 shares of the company's stock valued at $314,000 after acquiring an additional 21,626 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Alto Ingredients during the first quarter worth $199,000. GSA Capital Partners LLP raised its position in shares of Alto Ingredients by 30.1% in the first quarter. GSA Capital Partners LLP now owns 515,334 shares of the company's stock worth $587,000 after buying an additional 119,149 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Alto Ingredients by 30.1% during the fourth quarter. Two Sigma Investments LP now owns 158,259 shares of the company's stock valued at $247,000 after buying an additional 36,583 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Alto Ingredients Company Profile

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.