Pacific Ethanol (NASDAQ:PEIX) Shares Gap Up After Analyst Upgrade

Pacific Ethanol Inc (NASDAQ:PEIX)’s share price gapped up before the market opened on Wednesday after HC Wainwright raised their price target on the stock from $3.00 to $16.00. The stock had previously closed at $4.80, but opened at $5.87. HC Wainwright currently has a buy rating on the stock. Pacific Ethanol shares last traded at $5.40, with a volume of 221,920 shares traded.

Separately, Zacks Investment Research cut Pacific Ethanol from a “buy” rating to a “hold” rating in a report on Saturday, June 20th.

In related news, VP Christopher W. Wright sold 82,869 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $5.00, for a total transaction of $414,345.00. Following the sale, the vice president now owns 168,110 shares of the company’s stock, valued at approximately $840,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert E. Nathan purchased 32,800 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was purchased at an average cost of $3.35 per share, for a total transaction of $109,880.00. Following the purchase, the director now directly owns 156,591 shares in the company, valued at $524,579.85. The disclosure for this purchase can be found here. Insiders bought a total of 105,505 shares of company stock worth $358,678 over the last 90 days. 4.09% of the stock is owned by corporate insiders.

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.90 and a quick ratio of 0.58. The firm has a market cap of $273.53 million, a price-to-earnings ratio of -3.34 and a beta of 3.94. The business has a 50-day moving average of $3.64 and a 200-day moving average of $1.30.

Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Tuesday, August 11th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.49. Pacific Ethanol had a negative return on equity of 21.49% and a negative net margin of 6.30%. The company had revenue of $212.07 million during the quarter. During the same quarter in the prior year, the firm earned ($0.17) EPS.

About Pacific Ethanol (NASDAQ:PEIX)

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, 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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