Pacific Ethanol (NASDAQ:PEIX) Shares Down 6.7%

Pacific Ethanol Inc (NASDAQ:PEIX)’s stock price fell 6.7% on Wednesday . The company traded as low as $0.69 and last traded at $0.70, 550,982 shares traded hands during mid-day trading. An increase of 33% from the average session volume of 415,338 shares. The stock had previously closed at $0.75.

A number of brokerages have recently weighed in on PEIX. ValuEngine lowered shares of Pacific Ethanol from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Zacks Investment Research raised shares of Pacific Ethanol from a “sell” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, HC Wainwright cut their target price on shares of Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $4.00.

The firm has a market capitalization of $37.20 million, a price-to-earnings ratio of -0.46 and a beta of 1.83. The firm’s 50 day moving average is $0.64 and its 200 day moving average is $0.89. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.45.



Pacific Ethanol (NASDAQ:PEIX) last released its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. Pacific Ethanol had a negative net margin of 4.27% and a negative return on equity of 18.75%. The business had revenue of $346.30 million during the quarter, compared to analyst estimates of $377.12 million. On average, sell-side analysts predict that Pacific Ethanol Inc will post -0.84 earnings per share for the current year.

In other news, CEO Neil M. Koehler purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $0.57 per share, for a total transaction of $57,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 932,985 shares of the company’s stock, valued at $531,801.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.85% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PEIX. A.R.T. Advisors LLC acquired a new stake in shares of Pacific Ethanol during the second quarter valued at approximately $34,000. Bank of New York Mellon Corp increased its stake in Pacific Ethanol by 112.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 183,507 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 97,036 shares during the period. Acadian Asset Management LLC increased its stake in Pacific Ethanol by 22.6% in the 1st quarter. Acadian Asset Management LLC now owns 430,145 shares of the oil and gas company’s stock valued at $422,000 after buying an additional 79,403 shares during the period. Vanguard Group Inc. increased its stake in Pacific Ethanol by 55.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,910,502 shares of the oil and gas company’s stock valued at $1,461,000 after buying an additional 677,991 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Pacific Ethanol by 42.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,062,077 shares of the oil and gas company’s stock valued at $1,577,000 after buying an additional 615,846 shares during the period. Institutional investors and hedge funds own 41.72% of the company’s stock.

Pacific Ethanol Company Profile (NASDAQ:PEIX)

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.

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