Pacific Ethanol Inc. (PEIX) Trading 6.8% Higher
Pacific Ethanol Inc. (NASDAQ:PEIX)’s share price was up 6.8% during mid-day trading on Tuesday . The stock traded as high as $6.15 and last traded at $6.15, with a volume of 607,623 shares. The stock had previously closed at $5.76.
Several equities analysts have issued reports on PEIX shares. Zacks Investment Research lowered Pacific Ethanol from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Rodman & Renshaw started coverage on Pacific Ethanol in a report on Tuesday, May 24th. They set 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 report on Tuesday, May 24th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.17.
The stock has a 50-day moving average price of $5.69 and a 200-day moving average price of $4.63. The company’s market cap is $268.87 million.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.19. During the same period in the prior year, the firm posted ($0.19) earnings per share. The company had revenue of $342.40 million for the quarter, compared to analyst estimates of $360.37 million. The company’s revenue for the quarter was up 66.1% compared to the same quarter last year. On average, equities research analysts expect 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 on Thursday, June 9th. The stock was sold at an average price of $6.00, for a total transaction of $186,000.00. Following the transaction, the vice president now directly owns 63,936 shares in the company, valued at approximately $383,616. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of institutional investors recently modified their holdings of the stock. Marshall Wace LLP boosted its position 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 period. 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 worth $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 worth $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 worth $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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