Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Down 13.6% in October

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 766,300 shares, a drop of 13.6% from the October 15th total of 886,700 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 659,300 shares, the short-interest ratio is currently 1.2 days.

Alto Ingredients Stock Down 0.7 %

Shares of NASDAQ:ALTO opened at $1.37 on Friday. The company has a current ratio of 3.22, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $1.62 and a two-hundred day simple moving average of $1.55. Alto Ingredients has a 12-month low of $1.18 and a 12-month high of $3.00. The stock has a market capitalization of $104.79 million, a price-to-earnings ratio of -2.63 and a beta of 1.97.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. The company had revenue of $251.81 million during the quarter, compared to analysts’ expectations of $274.94 million. During the same period in the prior year, the firm earned ($0.05) EPS. On average, research analysts anticipate that Alto Ingredients will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in shares of Alto Ingredients by 53.4% in the second quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock worth $2,423,000 after buying an additional 583,967 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Alto Ingredients during the 2nd quarter worth approximately $400,000. Jane Street Group LLC raised its stake in Alto Ingredients by 101.2% during the third quarter. Jane Street Group LLC now owns 289,604 shares of the company’s stock valued at $466,000 after purchasing an additional 145,687 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Alto Ingredients in the 2nd quarter valued at about $202,000. Finally, Empowered Funds LLC bought a new stake in shares of Alto Ingredients in the 1st quarter valued at approximately $286,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 target price on shares of Alto Ingredients in a research note on Wednesday, August 7th.

Alto Ingredients Company Profile

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.