Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Significant Decline in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO – Get Rating) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 8,530,000 shares, a drop of 9.5% from the August 15th total of 9,430,000 shares. Based on an average daily trading volume, of 1,620,000 shares, the short-interest ratio is currently 5.3 days. Approximately 12.1% of the company’s stock is sold out.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Alto Ingredients from a “c” rating to a “b-” rating in a research report on Tuesday, August 9th.

Alto Ingredients Stock Performance

Shares of ALTO stock opened at $3.92 on Monday. The company has a quick ratio of 2.17, a current ratio of 2.88 and a debt-to-equity ratio of 0.14. Alto Ingredients has a 52 week low of $3.51 and a 52 week high of $7.37. The stock has a market capitalization of $289.01 million, a PE ratio of 5.68 and a beta of 2.52. The firm has a 50 day moving average of $4.30 and a two-hundred day moving average of $4.98.

Alto Ingredients (NASDAQ:ALTO – Get Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $362.19 million for the quarter, compared to analysts’ expectations of $324.95 million. Alto Ingredients had a return on equity of 8.81% and a net margin of 3.86%. During the same period last year, the firm posted $0.09 earnings per share. On average, research analysts predict that Alto Ingredients will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Alto Ingredients

Several institutional investors have recently modified their holdings of ALTO. FNY Investment Advisers LLC acquired a new stake in Alto Ingredients during the 1st quarter worth $30,000. Amalgamated Bank acquired a new stake in Alto Ingredients during the 1st quarter worth $59,000. Princeton Global Asset Management LLC acquired a new stake in Alto Ingredients during the 1st quarter worth $60,000. Counterpoint Mutual Funds LLC acquired a new stake in Alto Ingredients during the 1st quarter worth $68,000. Finally, Credit Agricole SA raised its stake in Alto Ingredients by 150.0% during the 2nd quarter. Credit Agricole SA now owns 10,000 shares of the company’s stock worth $37,000 after acquiring an additional 6,000 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Alto Ingredients Company Profile

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Alto Ingredients, Inc produces and markets specialty alcohols and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Beijing Production, and Other 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, flavor extracts, and vinegar, as well as corn germ used in corn oils and carbon dioxide for food and beverage markets; and essential ingredients include dried yeast, corn gluten meal, corn gluten feed, distillers grains, and liquid feed for commercial animal feed and pet food applications.

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