Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Drops By 18.5%

Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 783,600 shares, a decline of 18.5% from the April 30th total of 962,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 535,100 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On Alto Ingredients

A number of hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. lifted its holdings in shares of Alto Ingredients by 20.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,601,379 shares of the company's stock worth $2,498,000 after purchasing an additional 274,918 shares during the period. Peapod Lane Capital LLC acquired a new position in shares of Alto Ingredients during the fourth quarter worth $1,465,000. Geode Capital Management LLC lifted its holdings in shares of Alto Ingredients by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 893,951 shares of the company's stock worth $1,395,000 after purchasing an additional 8,435 shares during the period. GSA Capital Partners LLP lifted its holdings in Alto Ingredients by 30.1% in the first quarter. GSA Capital Partners LLP now owns 515,334 shares of the company's stock valued at $587,000 after buying an additional 119,149 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Alto Ingredients by 39.9% in the fourth quarter. Jane Street Group LLC now owns 405,182 shares of the company's stock valued at $632,000 after buying an additional 115,578 shares during the period. Institutional investors and hedge funds own 42.44% of the company's stock.

Alto Ingredients Trading Up 8.4%

Shares of NASDAQ:ALTO traded up $0.08 during mid-day trading on Friday, reaching $1.02. 296,307 shares of the company's stock were exchanged, compared to its average volume of 595,274. The firm has a market capitalization of $78.14 million, a price-to-earnings ratio of -1.96 and a beta of 1.32. The business's fifty day moving average price is $0.90 and its 200-day moving average price is $1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.15 and a current ratio of 3.22. Alto Ingredients has a twelve month low of $0.76 and a twelve month high of $2.05.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The business had revenue of $226.54 million for the quarter, compared to analyst estimates of $222.19 million. Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. On average, research analysts predict that Alto Ingredients will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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 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.