Green Plains (NASDAQ:GPRE) Shares Gap Up – Here’s Why

Green Plains Inc. (NASDAQ:GPRE) shares gapped up prior to trading on Thursday . The stock had previously closed at $11.64, but opened at $12.93. Green Plains shares last traded at $13.47, with a volume of 460,958 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GPRE shares. UBS Group lowered their price target on shares of Green Plains from $26.00 to $23.50 and set a “buy” rating on the stock in a research report on Monday, August 19th. Oppenheimer cut shares of Green Plains from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 7th. Truist Financial cut their price target on Green Plains from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Craig Hallum decreased their price objective on Green Plains from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets cut their target price on Green Plains from $22.00 to $17.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Green Plains Stock Performance

The company has a 50-day moving average of $12.89 and a 200 day moving average of $15.76. The firm has a market capitalization of $869.77 million, a PE ratio of -10.82 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.55.

Green Plains (NASDAQ:GPRE) last posted its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.35). The company had revenue of $618.83 million during the quarter, compared to the consensus estimate of $646.70 million. Green Plains had a negative return on equity of 4.94% and a negative net margin of 1.64%. The firm’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.89) earnings per share. Equities research analysts predict that Green Plains Inc. will post -1.05 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Green Plains by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,213,549 shares of the specialty chemicals company’s stock worth $106,266,000 after purchasing an additional 53,320 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Green Plains by 6.9% in the first quarter. State of Alaska Department of Revenue now owns 39,149 shares of the specialty chemicals company’s stock worth $905,000 after buying an additional 2,537 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Green Plains by 7.9% during the first quarter. Maryland State Retirement & Pension System now owns 23,347 shares of the specialty chemicals company’s stock valued at $540,000 after acquiring an additional 1,718 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Green Plains during the first quarter worth approximately $264,000. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of Green Plains by 6.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,071 shares of the specialty chemicals company’s stock worth $256,000 after acquiring an additional 655 shares during the last quarter.

Green Plains Company Profile

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.