Key Points
- Director Gilbert Nathan bought 20,000 shares of Alto Ingredients at $4.61 each, a transaction worth $92,200 and increasing his ownership by 2.67% to 769,741 shares.
- Alto Ingredients shares were up 1.5%, opening at $4.66, while the stock sits near its 50-day moving average and well above its 52-week low.
- The company recently beat quarterly earnings and revenue estimates, reporting EPS of $0.05 versus the expected loss and revenue of $224.68 million versus $215.65 million expected.
Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) Director Gilbert Nathan bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $4.45 per share, with a total value of $22,250.00. Following the transaction, the director directly owned 774,741 shares in the company, valued at $3,447,597.45. The trade was a 0.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Alto Ingredients Stock Performance
NASDAQ:ALTO opened at $4.66 on Friday. The business has a 50 day moving average of $4.72 and a 200 day moving average of $3.21. The company has a market capitalization of $360.19 million, a price-to-earnings ratio of 12.59 and a beta of 0.14. Alto Ingredients, Inc. has a 1-year low of $0.84 and a 1-year high of $5.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.81 and a quick ratio of 1.60.
Alto Ingredients (NASDAQ:ALTO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.13. The business had revenue of $224.68 million for the quarter, compared to analysts' expectations of $215.65 million. Alto Ingredients had a return on equity of 9.77% and a net margin of 3.20%. On average, sell-side analysts predict that Alto Ingredients, Inc. will post 0.54 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Alto Ingredients
Hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. purchased a new position in shares of Alto Ingredients during the fourth quarter valued at approximately $33,000. Leonteq Securities AG purchased a new position in shares of Alto Ingredients during the fourth quarter valued at approximately $44,000. CreativeOne Wealth LLC purchased a new position in shares of Alto Ingredients during the fourth quarter valued at approximately $46,000. Bank of New York Mellon Corp purchased a new position in shares of Alto Ingredients during the first quarter valued at approximately $49,000. Finally, Virtu Financial LLC purchased a new position in shares of Alto Ingredients during the third quarter valued at approximately $52,000. 42.44% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have commented on ALTO. Wall Street Zen raised Alto Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Monday, March 23rd. Zacks Research cut Alto Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. HC Wainwright lifted their price target on Alto Ingredients from $5.50 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings raised Alto Ingredients from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $10.00.
Check Out Our Latest Stock Analysis on ALTO
About Alto Ingredients
(
Get Free Report)
Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.
Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.
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