Weiss Ratings Reaffirms "Sell (E+)" Rating for Alto Ingredients (NASDAQ:ALTO)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Alto Ingredients (NASDAQ:ALTO), indicating ongoing concerns about the stock's performance.
• In its latest earnings report, Alto Ingredients reported a loss of $0.15 per share, which slightly beat analysts' expectations.
• Institutional investors currently hold 42.44% of Alto Ingredients' stock, with recent significant activities in share purchasing among various funds.

Alto Ingredients (NASDAQ:ALTO - Get Free Report)'s stock had its "sell (e+)" rating restated by equities researchers at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Alto Ingredients Stock Performance

Shares of ALTO stock traded up $0.01 on Tuesday, reaching $1.11. The stock had a trading volume of 38,244 shares, compared to its average volume of 429,319. The stock has a market cap of $85.53 million, a P/E ratio of -1.20 and a beta of 0.67. Alto Ingredients has a 1 year low of $0.76 and a 1 year high of $2.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.25 and a current ratio of 3.52. The company has a 50 day simple moving average of $1.10 and a 200 day simple moving average of $1.05.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.03. The firm had revenue of $218.44 million for the quarter, compared to the consensus estimate of $223.61 million. Alto Ingredients had a negative return on equity of 18.78% and a negative net margin of 7.16%. Equities research analysts expect that Alto Ingredients will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. OMERS ADMINISTRATION Corp purchased a new position in shares of Alto Ingredients during the 1st quarter worth $199,000. GSA Capital Partners LLP lifted its position in Alto Ingredients by 30.1% during the first quarter. GSA Capital Partners LLP now owns 515,334 shares of the company's stock valued at $587,000 after purchasing an additional 119,149 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Alto Ingredients by 5.9% during the second quarter. Bridgeway Capital Management LLC now owns 487,059 shares of the company's stock valued at $560,000 after purchasing an additional 27,007 shares in the last quarter. Empowered Funds LLC lifted its position in Alto Ingredients by 8.5% during the first quarter. Empowered Funds LLC now owns 275,552 shares of the company's stock valued at $314,000 after purchasing an additional 21,626 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Alto Ingredients by 2,539,250.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company's stock valued at $58,000 after buying an additional 50,785 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company's stock.

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.

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