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
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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