Pacific Ethanol Inc. (PEIX) Shares Down 3.2%
Pacific Ethanol Inc. (NASDAQ:PEIX)’s share price was down 3.2% during trading on Thursday . The company traded as low as $5.79 and last traded at $5.84, with a volume of 609,785 shares. The stock had previously closed at $6.03.
A number of equities analysts recently commented on PEIX shares. Zacks Investment Research lowered Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. 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 objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Pacific Ethanol in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $9.17.
The stock’s 50-day moving average is $5.71 and its 200 day moving average is $4.61. The firm’s market cap is $251.74 million.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.19. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. The business earned $342.40 million during the quarter, compared to analysts’ expectations of $360.37 million. The firm’s quarterly revenue was up 66.1% on a year-over-year basis. On average, equities research 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 firm’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $6.00, for a total value of $186,000.00. Following the sale, the vice president now owns 63,936 shares of the company’s stock, valued at approximately $383,616. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Other hedge funds have added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in 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 boosted its stake in 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 boosted its stake in 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 boosted its stake in 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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