Green Plains (NASDAQ:GPRE) Shares Gap Down - Here's Why

Key Points

• Green Plains, Inc. experienced a significant drop in share price, opening at $8.62 after closing at $9.21, reflecting a gap down ahead of the market opening.
• Analysts issued updated ratings, with Bank of America maintaining an "underperform" rating and setting a price objective of $7.00, while BMO Capital Markets reduced their target from $8.00 also to $7.00.
• The company reported a loss of ($0.41) earnings per share, missing estimates of ($0.28), with a revenue decline of 10.7% compared to the same quarter last year.

Green Plains, Inc. (NASDAQ:GPRE - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $9.21, but opened at $8.62. Green Plains shares last traded at $8.61, with a volume of 300,457 shares changing hands.

Analyst Ratings Changes

GPRE has been the topic of several recent analyst reports. Bank of America reiterated an "underperform" rating and set a $7.00 price objective (up previously from $4.50) on shares of Green Plains in a research report on Thursday. BMO Capital Markets reduced their price objective on shares of Green Plains from $8.00 to $7.00 and set a "market perform" rating on the stock in a research report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $7.80.

Green Plains Stock Performance

The business's fifty day moving average is $6.91 and its two-hundred day moving average is $5.76. The company has a quick ratio of 0.81, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $551.12 million, a PE ratio of -3.53 and a beta of 1.18.

Green Plains (NASDAQ:GPRE - Get Free Report) last posted its earnings results on Monday, August 11th. The specialty chemicals company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.13). Green Plains had a negative net margin of 6.34% and a negative return on equity of 13.65%. The business had revenue of $552.83 million during the quarter, compared to analysts' expectations of $578.18 million. During the same period last year, the business posted ($0.38) earnings per share. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, research analysts anticipate that Green Plains, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ardsley Advisory Partners LP purchased a new position in shares of Green Plains in the second quarter valued at $302,000. Qube Research & Technologies Ltd purchased a new position in shares of Green Plains in the second quarter valued at $1,269,000. Lombard Odier Asset Management USA Corp purchased a new position in Green Plains during the second quarter worth $1,201,000. WINTON GROUP Ltd purchased a new position in Green Plains during the second quarter worth $61,000. Finally, Jump Financial LLC boosted its stake in Green Plains by 70.8% during the second quarter. Jump Financial LLC now owns 476,873 shares of the specialty chemicals company's stock worth $2,876,000 after buying an additional 197,615 shares during the period.

Green Plains Company Profile

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.

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