Pacific Ethanol (NASDAQ:PEIX) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Pacific Ethanol from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Wednesday, January 10th. B. Riley set a $7.00 price target on Pacific Ethanol and gave the company a “buy” rating in a research note on Monday, March 5th. Finally, HC Wainwright set a $14.00 price target on Pacific Ethanol and gave the company a “buy” rating in a research note on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.75.
PEIX stock traded up $0.65 during mid-day trading on Wednesday, reaching $3.90. The company had a trading volume of 1,153,403 shares, compared to its average volume of 423,949. The company has a quick ratio of 1.56, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. The company has a market cap of $149.46, a price-to-earnings ratio of -4.59 and a beta of 2.05. Pacific Ethanol has a 52 week low of $2.75 and a 52 week high of $7.50.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.21). The company had revenue of $395.27 million during the quarter, compared to the consensus estimate of $418.84 million. Pacific Ethanol had a negative net margin of 2.14% and a negative return on equity of 8.84%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. equities research analysts anticipate that Pacific Ethanol will post -0.49 EPS for the current fiscal year.
In other Pacific Ethanol news, Director Larry D. Layne acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was bought at an average cost of $3.70 per share, with a total value of $37,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil M. Koehler acquired 30,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was acquired at an average cost of $3.20 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 52,000 shares of company stock valued at $172,425. Insiders own 3.87% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Pacific Ethanol by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 334,923 shares of the oil and gas company’s stock valued at $1,523,000 after buying an additional 19,476 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Pacific Ethanol by 20.4% in the fourth quarter. Wells Fargo & Company MN now owns 123,454 shares of the oil and gas company’s stock valued at $561,000 after buying an additional 20,941 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Pacific Ethanol by 28.8% in the fourth quarter. Macquarie Group Ltd. now owns 99,725 shares of the oil and gas company’s stock valued at $454,000 after buying an additional 22,300 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Pacific Ethanol in the fourth quarter valued at approximately $126,000. Finally, New York State Common Retirement Fund lifted its position in shares of Pacific Ethanol by 60.2% in the third quarter. New York State Common Retirement Fund now owns 79,654 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 29,928 shares during the last quarter. 78.33% of the stock is owned by institutional investors.
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Pacific Ethanol Company Profile
Pacific Ethanol, Inc produces and markets low-carbon renewable fuels in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; specialty alcohols; and co-products, such as wet distillers grains, dry distillers grains with solubles, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.
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