Alto Ingredients, Inc. (NASDAQ:ALTO – Get Free Report) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 861,000 shares, a decline of 25.1% from the August 15th total of 1,150,000 shares. Based on an average daily volume of 448,500 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.2% of the shares of the company are sold short.
Analysts Set New Price Targets
Separately, HC Wainwright reiterated a “buy” rating and issued a $5.50 target price on shares of Alto Ingredients in a research report on Wednesday, August 7th.
Read Our Latest Research Report on Alto Ingredients
Alto Ingredients Stock Up 7.7 %
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. The firm had revenue of $236.47 million for the quarter, compared to the consensus estimate of $236.17 million. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Alto Ingredients will post -0.04 earnings per share for the current year.
Hedge Funds Weigh In On Alto Ingredients
Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Alto Ingredients in the first quarter valued at approximately $62,000. Virtu Financial LLC purchased a new stake in shares of Alto Ingredients during the first quarter worth about $68,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Alto Ingredients during the 1st quarter worth about $131,000. Aigen Investment Management LP purchased a new stake in Alto Ingredients during the 4th quarter worth approximately $135,000. Finally, Marshall Wace LLP purchased a new position in shares of Alto Ingredients in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.
Alto Ingredients Company Profile
Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western 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 and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.
Recommended Stories
- Five stocks we like better than Alto Ingredients
- What Are Dividends? Buy the Best Dividend Stocks
- Analysts See 51% Upside in Coinbase, Is It Time to Buy the Hype?
- Best Stocks Under $10.00
- 3 Defensive Stock Alternatives to Bonds If Interest Rates Drop
- What Are Dividend Champions? How to Invest in the Champions
- Symbotic’s Double-Bagger Potential as It Hits a Key Inflection
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.