439,816 Shares in Alto Ingredients, Inc. (NASDAQ:ALTO) Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC acquired a new position in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 439,816 shares of the company’s stock, valued at approximately $2,687,000. Rafferty Asset Management LLC owned 0.60% of Alto Ingredients as of its most recent filing with the SEC.

Shares of ALTO opened at $4.91 on Friday. Alto Ingredients, Inc. has a twelve month low of $4.39 and a twelve month high of $11.44. The firm’s fifty day simple moving average is $5.03 and its 200-day simple moving average is $5.59. The firm has a market capitalization of $357.48 million, a price-to-earnings ratio of 44.64 and a beta of 2.99. The company has a current ratio of 2.21, a quick ratio of 1.68 and a debt-to-equity ratio of 0.18.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings data on Monday, August 2nd. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Alto Ingredients had a net margin of 0.91% and a return on equity of 10.65%. On average, analysts predict that Alto Ingredients, Inc. will post 0.45 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Alto Ingredients from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Thursday, August 5th. Guggenheim reissued a “buy” rating and issued a $9.00 price target on shares of Alto Ingredients in a research report on Thursday, June 17th. Craig Hallum reissued a “buy” rating and issued a $11.00 price target on shares of Alto Ingredients in a research report on Thursday, June 17th. Finally, TheStreet raised shares of Alto Ingredients from a “d+” rating to a “c-” rating in a research report on Wednesday, June 16th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.50.

Alto Ingredients Company Profile

Alto Ingredients, Inc engages in the production and marketing of specialty alcohols and essential ingredients. It operates through the following segments: Marketing and Distribution, Pekin Campus Production, and Other Production. The Marketing and Distribution segment includes marketing and merchant trading for company-produced alcohols and essential ingredients, on an aggregated basis, and third-party fuel-grade ethanol.

See Also: What’s a Black Swan?

Institutional Ownership by Quarter for Alto Ingredients (NASDAQ:ALTO)

Receive News & Ratings for Alto Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alto Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.