Pacific Ethanol Inc (NASDAQ:PEIX)’s share price fell 1.1% on Thursday . The company traded as low as $2.65 and last traded at $2.67. 19,151 shares changed hands during trading, a decline of 96% from the average session volume of 448,781 shares. The stock had previously closed at $2.70.
A number of research firms recently weighed in on PEIX. ValuEngine upgraded shares of Pacific Ethanol from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 13th. B. Riley set a $7.00 target price on shares of Pacific Ethanol and gave the stock a “buy” rating in a research note on Monday, March 5th. HC Wainwright set a $14.00 target price on shares of Pacific Ethanol and gave the stock a “buy” rating in a research note on Friday, March 2nd. Finally, Zacks Investment Research raised shares of Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Pacific Ethanol currently has a consensus rating of “Buy” and a consensus price target of $9.75.
The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.51 and a current ratio of 2.24. The company has a market capitalization of $116.10 million, a P/E ratio of -2.88 and a beta of 2.03.
Pacific Ethanol (NASDAQ:PEIX) last issued its earnings results on Friday, May 11th. The oil and gas company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Pacific Ethanol had a negative net margin of 1.83% and a negative return on equity of 7.78%. The company had revenue of $400.03 million for the quarter, compared to the consensus estimate of $411.18 million. analysts predict that Pacific Ethanol Inc will post -0.25 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Pacific Ethanol by 7.5% in the 4th quarter. BlackRock Inc. now owns 5,557,773 shares of the oil and gas company’s stock valued at $25,287,000 after acquiring an additional 386,167 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pacific Ethanol by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,069,862 shares of the oil and gas company’s stock valued at $9,210,000 after acquiring an additional 209,365 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Pacific Ethanol by 80.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,690,258 shares of the oil and gas company’s stock valued at $5,071,000 after acquiring an additional 754,734 shares during the period. Foundry Partners LLC raised its stake in shares of Pacific Ethanol by 22.1% in the 1st quarter. Foundry Partners LLC now owns 1,087,190 shares of the oil and gas company’s stock valued at $3,262,000 after acquiring an additional 196,820 shares during the period. Finally, Matarin Capital Management LLC purchased a new stake in shares of Pacific Ethanol in the 1st quarter valued at approximately $2,149,000. 78.07% of the stock is currently owned by institutional investors and hedge funds.
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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