Pacific Ethanol (NASDAQ:PEIX) Stock Price Up 6.4%

Pacific Ethanol Inc (NASDAQ:PEIX)’s share price rose 6.4% on Friday . The company traded as high as $0.55 and last traded at $0.50, approximately 387,500 shares changed hands during mid-day trading. A decline of 4% from the average daily volume of 403,694 shares. The stock had previously closed at $0.47.

Separately, HC Wainwright lowered their price target on shares of Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

The business’s fifty day simple moving average is $0.56 and its 200 day simple moving average is $0.74. The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.45. The stock has a market cap of $24.38 million, a price-to-earnings ratio of -0.35 and a beta of 1.71.

Pacific Ethanol (NASDAQ:PEIX) last released its earnings results on Thursday, November 7th. The oil and gas company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.42). Pacific Ethanol had a negative return on equity of 25.76% and a negative net margin of 5.70%. The business had revenue of $365.16 million for the quarter, compared to analyst estimates of $359.26 million. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, research analysts anticipate that Pacific Ethanol Inc will post -0.87 earnings per share for the current year.

In other Pacific Ethanol news, CEO Neil M. Koehler bought 100,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was purchased at an average price of $0.57 per share, with a total value of $57,000.00. Following the acquisition, the chief executive officer now owns 932,985 shares of the company’s stock, valued at $531,801.45. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 5.48% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. A.R.T. Advisors LLC acquired a new stake in Pacific Ethanol during the 2nd quarter worth $34,000. Bank of New York Mellon Corp grew its holdings in Pacific Ethanol by 112.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 183,507 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 97,036 shares during the period. Vanguard Group Inc. grew its holdings in Pacific Ethanol by 55.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,910,502 shares of the oil and gas company’s stock worth $1,461,000 after acquiring an additional 677,991 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Pacific Ethanol by 42.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,062,077 shares of the oil and gas company’s stock worth $1,577,000 after acquiring an additional 615,846 shares during the period. 41.72% of the stock is owned by hedge funds and other institutional investors.

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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