HC Wainwright set a $8.00 price objective on Pacific Ethanol (NASDAQ:PEIX) in a research report released on Friday, The Fly reports. The brokerage currently has a buy rating on the oil and gas company’s stock.
A number of other brokerages also recently issued reports on PEIX. Zacks Investment Research downgraded shares of Pacific Ethanol from a buy rating to a hold rating in a research report on Tuesday, July 17th. ValuEngine raised shares of Pacific Ethanol from a sell rating to a hold rating in a research report on Thursday, August 2nd. Finally, B. Riley set a $7.00 price objective on shares of Pacific Ethanol and gave the stock a buy rating in a research report on Sunday, August 12th.
PEIX stock traded up $0.09 during trading on Friday, reaching $1.82. The stock had a trading volume of 395,425 shares, compared to its average volume of 2,344,576. Pacific Ethanol has a one year low of $1.38 and a one year high of $5.09. The company has a quick ratio of 1.54, a current ratio of 2.21 and a debt-to-equity ratio of 0.66.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.05). Pacific Ethanol had a negative return on equity of 11.23% and a negative net margin of 2.66%. The firm had revenue of $370.41 million during the quarter, compared to the consensus estimate of $404.30 million. Equities research analysts predict that Pacific Ethanol will post -0.72 earnings per share for the current year.
Hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its position in Pacific Ethanol by 184.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 53,200 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 34,500 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Pacific Ethanol during the 2nd quarter valued at approximately $154,000. LMR Partners LLP bought a new position in shares of Pacific Ethanol during the 2nd quarter valued at approximately $281,000. California Public Employees Retirement System grew its position in shares of Pacific Ethanol by 24.0% during the 1st quarter. California Public Employees Retirement System now owns 114,573 shares of the oil and gas company’s stock valued at $344,000 after acquiring an additional 22,179 shares during the period. Finally, United Services Automobile Association grew its position in shares of Pacific Ethanol by 65.6% during the 2nd quarter. United Services Automobile Association now owns 179,761 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 71,200 shares during the period. 64.89% of the stock is 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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