Pacific Ethanol (NASDAQ:PEIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “Pacific Ethanol, Inc. is currently in the business of marketing ethanol in the Western United States through Kinergy Marketing, a wholly-owned subsidiary of the Company and the largest West Coast-based marketer of renewable fuels. The Company intends, in the near future, to construct an ethanol production facility at its Madera County, California, site. “
Several other brokerages also recently issued reports on PEIX. B. Riley lowered their price objective on shares of Pacific Ethanol from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 7th. ValuEngine downgraded shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. Finally, HC Wainwright set a $8.00 target price on Pacific Ethanol and gave the company a “buy” rating in a research note on Friday, November 2nd.
NASDAQ:PEIX remained flat at $$1.25 during trading hours on Tuesday. 74,994 shares of the company’s stock traded hands, compared to its average volume of 534,283. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.94 and a quick ratio of 1.39. Pacific Ethanol has a one year low of $0.76 and a one year high of $4.75. The firm has a market capitalization of $51.20 million, a P/E ratio of -1.46 and a beta of 2.18.
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 Thomson Reuters’ consensus estimate of ($0.13) by ($0.05). Pacific Ethanol had a negative net margin of 2.66% and a negative return on equity of 11.39%. The firm had revenue of $370.41 million during the quarter, compared to analyst estimates of $404.30 million. On average, equities research analysts anticipate that Pacific Ethanol will post -0.92 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co purchased a new position in shares of Pacific Ethanol during the 2nd quarter valued at approximately $547,000. Valeo Financial Advisors LLC boosted its stake in shares of Pacific Ethanol by 184.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 53,200 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 34,500 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Pacific Ethanol during the 2nd quarter valued at approximately $1,606,000. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Pacific Ethanol by 36.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 927,129 shares of the oil and gas company’s stock valued at $1,762,000 after buying an additional 249,300 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new position in shares of Pacific Ethanol during the 3rd quarter valued at approximately $1,204,000. Institutional investors own 61.11% of the company’s stock.
About Pacific Ethanol
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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