945,799 Shares in Green Plains, Inc. $GPRE Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 945,799 Green Plains shares in the second quarter, valued at approximately $14.5 million and representing a 1.35% stake. Several other institutional investors also initiated positions.
• Analyst sentiment remains mixed, with three Buy, five Hold, and one Sell rating; the stock carries a consensus Hold rating and a $15.43 target price.
• Green Plains reported quarterly EPS of $0.83, exceeding the $0.54 consensus estimate, although revenue of $446.2 million fell short of expectations. Shares opened at $14.92, within a 52-week range of $8.65 to $19.65.

Bank of America Corp DE purchased a new position in shares of Green Plains, Inc. (NASDAQ:GPRE - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 945,799 shares of the specialty chemicals company's stock, valued at approximately $14,546,000. Bank of America Corp DE owned 1.35% of Green Plains as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Man Group plc bought a new stake in shares of Green Plains during the second quarter valued at about $2,542,000. Jupiter Topco LLC purchased a new position in shares of Green Plains in the second quarter worth $397,000. J. Goldman & Co LP purchased a new stake in shares of Green Plains in the 2nd quarter worth $2,115,000. Hsbc Holdings PLC bought a new position in Green Plains in the 2nd quarter worth $561,000. Finally, PDT Partners LLC purchased a new position in shares of Green Plains during the second quarter valued at about $697,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GPRE. Wall Street Zen raised shares of Green Plains from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. UBS Group reiterated a "neutral" rating on shares of Green Plains in a research report on Tuesday, August 25th. BMO Capital Markets reissued a "market perform" rating on shares of Green Plains in a research report on Friday, August 7th. Zacks Research upgraded Green Plains from a "strong sell" rating to a "hold" rating in a report on Monday, September 21st. Finally, Weiss Ratings raised Green Plains from a "sell (d-)" rating to a "hold (c)" rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $15.43.

Green Plains Price Performance

GPRE stock opened at $14.92 on Friday. Green Plains, Inc. has a 52-week low of $8.65 and a 52-week high of $19.65. The company has a market capitalization of $1.05 billion, a PE ratio of 9.38 and a beta of 1.16. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock's 50 day moving average is $15.64 and its two-hundred day moving average is $15.85.

Green Plains (NASDAQ:GPRE - Get Free Report) last announced its earnings results on Thursday, August 6th. The specialty chemicals company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.29. The firm had revenue of $446.22 million for the quarter, compared to the consensus estimate of $542.38 million. Green Plains had a return on equity of 14.52% and a net margin of 6.78%.During the same quarter in the previous year, the business earned ($1.09) EPS. Analysts predict that Green Plains, Inc. will post 2.04 earnings per share for the current fiscal year.

Green Plains Profile

Green Plains Inc NASDAQ: GPRE is an agtech and biorefining company that converts sustainably sourced agricultural commodities, primarily corn, into value-added products. Its operations produce renewable ethanol, which is used as a transportation fuel and fuel additive, along with distillers grains and other feed ingredients for livestock and poultry markets.

The company also produces renewable corn oil for feed and fuel applications and develops higher-protein ingredients designed for animal nutrition and other specialty markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.