Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Update

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 766,300 shares, a drop of 13.6% from the October 15th total of 886,700 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 659,300 shares, the short-interest ratio is currently 1.2 days.

Alto Ingredients Trading Down 0.7 %

Shares of ALTO opened at $1.37 on Monday. The company’s fifty day simple moving average is $1.62 and its 200-day simple moving average is $1.55. The company has a market cap of $105.01 million, a P/E ratio of -2.63 and a beta of 1.97. The company has a current ratio of 3.22, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32. Alto Ingredients has a twelve month low of $1.18 and a twelve month high of $3.00.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. The firm had revenue of $251.81 million during the quarter, compared to analysts’ expectations of $274.94 million. During the same period last year, the company earned ($0.05) earnings per share. As a group, analysts expect that Alto Ingredients will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Alto Ingredients

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in Alto Ingredients by 53.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock valued at $2,423,000 after acquiring an additional 583,967 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Alto Ingredients in the second quarter worth about $400,000. Jane Street Group LLC increased its stake in Alto Ingredients by 101.2% in the 3rd quarter. Jane Street Group LLC now owns 289,604 shares of the company’s stock worth $466,000 after buying an additional 145,687 shares during the period. Marshall Wace LLP bought a new stake in Alto Ingredients during the 2nd quarter valued at about $202,000. Finally, Empowered Funds LLC purchased a new stake in Alto Ingredients in the 1st quarter valued at about $286,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $5.50 target price on shares of Alto Ingredients in a research report on Wednesday, August 7th.

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.