Key Points
- Director Gilbert Nathan bought 10,000 Alto Ingredients shares at an average price of $3.93, investing $39,300 and increasing his direct ownership to 866,393 shares.
- Alto Ingredients reported quarterly EPS of $0.15, beating the $0.08 consensus estimate, while revenue of $245.7 million also exceeded expectations.
- Analysts maintain a consensus “Hold” rating with a $10.00 price target; institutional investors and hedge funds own 42.44% of the company.
Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) Director Gilbert Nathan purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average price of $3.93 per share, with a total value of $39,300.00. Following the completion of the transaction, the director directly owned 866,393 shares of the company's stock, valued at $3,404,924.49. This represents a 1.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Alto Ingredients Stock Up 1.5%
Shares of NASDAQ ALTO opened at $3.96 on Tuesday. The stock has a market cap of $307.17 million, a PE ratio of 5.91 and a beta of 0.16. The company has a current ratio of 3.19, a quick ratio of 2.17 and a debt-to-equity ratio of 0.23. Alto Ingredients, Inc. has a 12-month low of $0.92 and a 12-month high of $6.11. The company has a 50-day moving average of $4.58 and a 200 day moving average of $4.73.
Alto Ingredients (NASDAQ:ALTO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. The firm had revenue of $245.70 million for the quarter, compared to analysts' expectations of $231.24 million. As a group, sell-side analysts predict that Alto Ingredients, Inc. will post 0.39 EPS for the current fiscal year.
Analyst Ratings Changes
ALTO has been the subject of several analyst reports. HC Wainwright reissued a "buy" rating on shares of Alto Ingredients in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Alto Ingredients in a research report on Friday, July 31st. Zacks Research cut Alto Ingredients from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, Scotiabank set a $10.00 price objective on Alto Ingredients in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Alto Ingredients currently has a consensus rating of "Hold" and a consensus target price of $10.00.
Get Our Latest Analysis on Alto Ingredients
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. WINTON GROUP Ltd boosted its stake in Alto Ingredients by 33.8% during the second quarter. WINTON GROUP Ltd now owns 24,075 shares of the company's stock worth $137,000 after buying an additional 6,075 shares during the period. California State Teachers Retirement System purchased a new stake in shares of Alto Ingredients in the 2nd quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new position in shares of Alto Ingredients in the 2nd quarter worth approximately $156,000. Empowered Funds LLC acquired a new position in shares of Alto Ingredients in the 2nd quarter worth approximately $2,527,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Alto Ingredients during the 2nd quarter worth approximately $112,000. Institutional investors and hedge funds own 42.44% of the company's stock.
About Alto Ingredients
(
Get Free Report)
Alto Ingredients, Inc is a renewable fuels and specialty alcohols company that produces and markets low-carbon ethanol and related products. Its offerings are used as transportation fuel, fuel additives, industrial and beverage alcohol, and in other commercial applications.
The company also produces co-products from its ethanol manufacturing operations, including distillers grains used as animal feed and corn oil used in feed, fuel and industrial markets. Alto Ingredients has pursued opportunities to develop lower-carbon products and improve the value of its agricultural and renewable fuel operations.
Previously known as Pacific Ethanol, the company adopted the Alto Ingredients name in 2020 to reflect its broader focus beyond conventional ethanol production.
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