Pacific Ethanol Inc. (PEIX) Trading Up 2.5%
Pacific Ethanol Inc. (NASDAQ:PEIX) was up 2.5% during mid-day trading on Monday . The stock traded as high as $6.16 and last traded at $6.11, with a volume of 431,386 shares trading hands. The stock had previously closed at $5.96.
Several equities research analysts recently issued reports on PEIX shares. Rodman & Renshaw started coverage on Pacific Ethanol in a research note on Tuesday, May 24th. They issued a “buy” rating and a $11.00 price target for the company. Zacks Investment Research upgraded Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 25th. Finally, HC Wainwright reiterated a “buy” rating on shares of Pacific Ethanol in a research note on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $9.17.
The company’s 50-day moving average is $5.74 and its 200 day moving average is $4.57. The stock’s market capitalization is $261.59 million.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.19. The business had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $360.37 million. During the same period last year, the business posted ($0.19) EPS. The business’s revenue was up 66.1% on a year-over-year basis. Analysts anticipate that Pacific Ethanol Inc. will post ($0.13) EPS for the current year.
In other Pacific Ethanol news, VP Christopher W. Wright sold 31,000 shares of the stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $6.00, for a total value of $186,000.00. Following the completion of the sale, the vice president now owns 63,936 shares in the company, valued at approximately $383,616. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Other large investors recently modified their holdings of the company. Marshall Wace LLP raised its stake in shares of Pacific Ethanol by 1.3% in the fourth quarter. Marshall Wace LLP now owns 409,972 shares of the company’s stock valued at $1,960,000 after buying an additional 5,340 shares during the last quarter. Russell Frank Co raised its stake in shares of Pacific Ethanol by 7.6% in the fourth quarter. Russell Frank Co now owns 542,186 shares of the company’s stock valued at $2,489,000 after buying an additional 38,462 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Pacific Ethanol by 51.6% in the fourth quarter. GSA Capital Partners LLP now owns 626,253 shares of the company’s stock valued at $2,993,000 after buying an additional 213,212 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Pacific Ethanol by 9.6% in the fourth quarter. Boston Partners now owns 2,463,018 shares of the company’s stock valued at $11,773,000 after buying an additional 216,550 shares during the last quarter.
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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