Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Down 25.1% in August

Alto Ingredients, Inc. (NASDAQ:ALTO) 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 trading volume of 448,500 shares, the short-interest ratio is presently 1.9 days. Approximately 1.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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.

Alto Ingredients Price Performance

ALTO stock opened at $1.60 on Tuesday. The company has a market capitalization of $121.12 million, a P/E ratio of -4.21 and a beta of 1.97. The company has a fifty day moving average price of $1.48 and a 200-day moving average price of $1.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 3.09. Alto Ingredients has a 52-week low of $1.28 and a 52-week high of $4.98.

Alto Ingredients (NASDAQ:ALTO) last announced its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Alto Ingredients had a negative return on equity of 11.26% and a negative net margin of 3.49%. The business had revenue of $236.47 million during the quarter, compared to analyst estimates of $236.17 million. During the same period last year, the company earned $0.10 EPS. As a group, equities analysts expect that Alto Ingredients will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Alto Ingredients

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Alto Ingredients during the 1st quarter valued at approximately $62,000. Virtu Financial LLC bought a new position in Alto Ingredients during the first quarter worth $68,000. Acadian Asset Management LLC lifted its holdings in Alto Ingredients by 8.6% in the first quarter. Acadian Asset Management LLC now owns 585,846 shares of the company’s stock valued at $1,276,000 after buying an additional 46,454 shares during the period. Aigen Investment Management LP bought a new stake in Alto Ingredients during the fourth quarter valued at $135,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Alto Ingredients during the 1st quarter worth about $131,000. 42.44% of the stock is owned by institutional investors and hedge funds.

About Alto Ingredients

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.