Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $3.77 and traded as high as $3.95. Alto Ingredients shares last traded at $3.82, with a volume of 1,157,005 shares.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Benchmark raised Alto Ingredients to a "strong-buy" rating in a research note on Wednesday, September 30th. HC Wainwright restated a "buy" rating on shares of Alto Ingredients in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Alto Ingredients in a research note on Thursday, October 29th. Finally, Scotiabank set a $10.00 price target on Alto Ingredients in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alto Ingredients currently has an average rating of "Moderate Buy" and a consensus target price of $10.00.
Check Out Our Latest Stock Analysis on ALTO
Alto Ingredients Stock Up 2.1%
The company has a debt-to-equity ratio of 0.23, a current ratio of 3.19 and a quick ratio of 2.17. The stock has a market capitalization of $296.32 million, a PE ratio of 5.97 and a beta of 0.13. The company has a 50 day moving average price of $3.77 and a 200-day moving average price of $4.28.
Alto Ingredients (NASDAQ:ALTO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.07. Alto Ingredients had a return on equity of 17.53% and a net margin of 5.29%. The company had revenue of $257.89 million during the quarter, compared to analyst estimates of $250.97 million. As a group, analysts forecast that Alto Ingredients, Inc. will post 0.48 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Gilbert Nathan purchased 10,000 shares of Alto Ingredients stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average price of $3.93 per share, for a total transaction of $39,300.00. Following the completion of the transaction, the director directly owned 866,393 shares of the company's stock, valued at $3,404,924.49. This represents a 1.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.28% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Alto Ingredients in the second quarter worth $31,322,000. Hillsdale Investment Management Inc. raised its position in shares of Alto Ingredients by 590.1% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company's stock worth $4,843,000 after purchasing an additional 855,703 shares during the last quarter. Bank of America Corp DE boosted its stake in Alto Ingredients by 1,441.7% in the 1st quarter. Bank of America Corp DE now owns 550,294 shares of the company's stock worth $2,663,000 after purchasing an additional 514,600 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Alto Ingredients by 74.7% in the first quarter. Dimensional Fund Advisors LP now owns 659,268 shares of the company's stock worth $3,190,000 after buying an additional 281,833 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alto Ingredients in the second quarter worth approximately $4,878,000. Institutional investors own 42.44% of the company's stock.
About Alto Ingredients
(
Get Free Report)
Alto Ingredients, Inc NASDAQ: ALTO is a renewable fuels and specialty ingredients company that produces low-carbon ethanol and other products derived primarily from corn. Its ethanol is used as a transportation fuel and as a blending component in gasoline, while the company's operations support markets focused on renewable energy and lower-carbon fuel alternatives.
In addition to ethanol, Alto Ingredients produces and markets co-products such as dried distillers grains, wet distillers grains and renewable corn oil.
See Also
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