Panagora Asset Management Inc. Makes New Investment in Alto Ingredients, Inc. (NASDAQ:ALTO)

Panagora Asset Management Inc. purchased a new stake in Alto Ingredients, Inc. (NASDAQ:ALTO) in the 2nd quarter, HoldingsChannel reports. The fund purchased 277,136 shares of the company’s stock, valued at approximately $400,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Alto Ingredients in the first quarter valued at approximately $62,000. Virtu Financial LLC acquired a new position in shares of Alto Ingredients in the 1st quarter worth approximately $68,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Alto Ingredients in the 1st quarter valued at $131,000. Aigen Investment Management LP acquired a new stake in shares of Alto Ingredients during the fourth quarter worth $135,000. Finally, Empowered Funds LLC bought a new position in Alto Ingredients during the first quarter worth $286,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Alto Ingredients Trading Down 0.7 %

NASDAQ ALTO opened at $1.37 on Wednesday. The stock has a market capitalization of $103.70 million, a P/E ratio of -3.61 and a beta of 1.95. The business has a 50 day simple moving average of $1.47 and a 200 day simple moving average of $1.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.09 and a quick ratio of 2.09. Alto Ingredients, Inc. has a one year low of $1.28 and a one year high of $4.98.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 company had revenue of $236.47 million during the quarter, compared to the consensus estimate of $236.17 million. During the same quarter last year, the firm posted $0.10 EPS. Research analysts expect that Alto Ingredients, Inc. will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

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

Alto Ingredients 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.