Millennium Management LLC Sells 252,132 Shares of Alto Ingredients, Inc. (NASDAQ:ALTO)

Millennium Management LLC reduced its position in Alto Ingredients, Inc. (NASDAQ:ALTO - Free Report) by 88.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 31,695 shares of the company's stock after selling 252,132 shares during the period. Millennium Management LLC's holdings in Alto Ingredients were worth $49,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Alto Ingredients by 78.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,109 shares of the company's stock worth $28,000 after acquiring an additional 7,968 shares during the last quarter. Two Sigma Securities LLC bought a new position in Alto Ingredients in the fourth quarter valued at approximately $50,000. SBI Securities Co. Ltd. bought a new position in Alto Ingredients in the fourth quarter valued at approximately $54,000. XTX Topco Ltd bought a new position in Alto Ingredients in the fourth quarter valued at approximately $94,000. Finally, Barclays PLC increased its stake in Alto Ingredients by 16.1% in the fourth quarter. Barclays PLC now owns 89,072 shares of the company's stock valued at $139,000 after acquiring an additional 12,369 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and set a $5.50 target price on shares of Alto Ingredients in a research note on Thursday, March 6th.

Alto Ingredients Price Performance

ALTO stock traded down $0.02 during midday trading on Wednesday, reaching $1.16. 123,285 shares of the stock were exchanged, compared to its average volume of 599,636. The stock has a market capitalization of $88.87 million, a PE ratio of -1.41 and a beta of 1.32. Alto Ingredients, Inc. has a 52 week low of $0.76 and a 52 week high of $2.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.89 and a quick ratio of 1.94. The company has a fifty day moving average price of $0.93 and a 200 day moving average price of $1.30.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $226.54 million for the quarter, compared to the consensus estimate of $222.19 million. Alto Ingredients had a negative return on equity of 14.40% and a negative net margin of 6.20%. As a group, analysts expect that Alto Ingredients, Inc. will post -0.37 EPS for the current fiscal year.

About Alto Ingredients

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.