Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Significant Decline in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 503,300 shares, a drop of 39.3% from the September 15th total of 829,200 shares. Based on an average daily volume of 446,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position 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 valued at $2,423,000 after purchasing an additional 583,967 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Alto Ingredients by 8.6% during the first quarter. Acadian Asset Management LLC now owns 585,846 shares of the company’s stock worth $1,276,000 after acquiring an additional 46,454 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Alto Ingredients by 48.3% in the second quarter. The Manufacturers Life Insurance Company now owns 351,748 shares of the company’s stock valued at $508,000 after purchasing an additional 114,571 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Alto Ingredients in the second quarter valued at approximately $400,000. Finally, Marshall Wace LLP bought a new position in shares of Alto Ingredients during the second quarter worth approximately $202,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Stock Down 0.6 %

Alto Ingredients stock opened at $1.66 on Monday. The stock has a market capitalization of $126.97 million, a PE ratio of -3.13 and a beta of 1.98. Alto Ingredients has a twelve month low of $1.28 and a twelve month high of $4.98. The company has a 50 day moving average of $1.51 and a 200-day moving average of $1.62. The company has a quick ratio of 2.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.34.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. The firm had revenue of $236.47 million for the quarter, compared to analyst estimates of $236.17 million. During the same period in the previous year, the business earned $0.10 EPS. On average, equities research analysts anticipate that Alto Ingredients will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $5.50 target price on shares of Alto Ingredients in a report 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.