Aemetis (NASDAQ:AMTX) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Aemetis, Inc (NASDAQ:AMTX)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.06 and traded as low as $1.6650. Aemetis shares last traded at $1.6850, with a volume of 990,264 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMTX. Wall Street Zen downgraded Aemetis from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Ascendiant Capital Markets raised their price objective on Aemetis from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Aemetis in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.88.

Aemetis Stock Down 8.9%

The business has a 50-day moving average price of $1.97 and a 200-day moving average price of $2.06. The firm has a market capitalization of $118.57 million, a price-to-earnings ratio of -1.42 and a beta of 1.44.

Aemetis (NASDAQ:AMTX) last posted its quarterly earnings data on Thursday, May 7th. The specialty chemicals company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The firm had revenue of $54.62 million during the quarter, compared to analysts’ expectations of $66.70 million. On average, equities research analysts forecast that Aemetis, Inc will post -1.11 earnings per share for the current year.

Hedge Funds Weigh In On Aemetis

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Aemetis by 10,632.5% during the 1st quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 8,825 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Aemetis during the first quarter worth $33,000. Creative Planning acquired a new stake in shares of Aemetis during the second quarter worth $30,000. Prairiewood Capital LLC purchased a new stake in shares of Aemetis during the first quarter valued at $47,000. Finally, Bank of America Corp DE increased its position in shares of Aemetis by 62.6% in the 3rd quarter. Bank of America Corp DE now owns 38,526 shares of the specialty chemicals company’s stock valued at $87,000 after acquiring an additional 14,836 shares during the period. 27.02% of the stock is owned by hedge funds and other institutional investors.

About Aemetis

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.