Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Decreases By 19.8%

Alto Ingredients, Inc. (NASDAQ:ALTO) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 585,300 shares, a decline of 19.8% from the November 30th total of 729,600 shares. Based on an average trading volume of 790,800 shares, the short-interest ratio is presently 0.7 days. Currently, 0.8% of the company’s stock are sold short.

Hedge Funds Weigh In On Alto Ingredients

A number of hedge funds and other institutional investors have recently made changes to their positions in ALTO. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Alto Ingredients by 137.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,788 shares of the company’s stock valued at $95,000 after buying an additional 34,061 shares during the last quarter. Barclays PLC grew its position in Alto Ingredients by 123.9% during the third quarter. Barclays PLC now owns 76,703 shares of the company’s stock worth $123,000 after buying an additional 42,450 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Alto Ingredients in the 3rd quarter worth $139,000. Corsair Capital Management L.P. purchased a new position in shares of Alto Ingredients during the third quarter worth approximately $142,000. Finally, Marshall Wace LLP bought a new position in shares of Alto Ingredients during the 2nd quarter valued at $202,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Alto Ingredients Stock Performance

ALTO stock traded down $0.13 during midday trading on Monday, reaching $1.55. 282,524 shares of the company were exchanged, compared to its average volume of 608,053. The business has a 50-day moving average price of $1.54 and a two-hundred day moving average price of $1.52. The firm has a market capitalization of $118.80 million, a price-to-earnings ratio of -2.98 and a beta of 1.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.22 and a quick ratio of 2.15. Alto Ingredients has a one year low of $1.18 and a one year high of $2.80.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $251.81 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter last year, the company posted ($0.05) EPS. Equities research analysts forecast that Alto Ingredients will post -0.37 EPS for the current year.

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.