Pacific Ethanol Inc. (PEIX) Stock Price Up 4.1%
Pacific Ethanol Inc. (NASDAQ:PEIX) shares rose 4.1% during trading on Monday . The company traded as high as $6.99 and last traded at $6.85, with a volume of 444,361 shares traded. The stock had previously closed at $6.58.
PEIX has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Rodman & Renshaw initiated coverage on shares of Pacific Ethanol in a research report on Tuesday, May 24th. They set a “buy” rating and a $11.00 target price on the stock. HC Wainwright reissued a “buy” rating on shares of Pacific Ethanol in a research report on Tuesday, May 24th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $9.00 price target on shares of Pacific Ethanol in a report on Monday, August 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Pacific Ethanol presently has an average rating of “Buy” and an average target price of $9.13.
The company’s market cap is $294.76 million. The stock’s 50 day moving average is $5.86 and its 200-day moving average is $4.80.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. The firm earned $422.90 million during the quarter, compared to analyst estimates of $383.29 million. The company’s quarterly revenue was up 85.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. Equities analysts predict that Pacific Ethanol Inc. will post ($0.01) EPS for the current fiscal year.
In related news, VP Christopher W. Wright sold 31,000 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $6.00, for a total value of $186,000.00. Following the transaction, the vice president now owns 63,936 shares in the company, valued at $383,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of institutional investors recently made changes to their positions in the stock. Coe Capital Management LLC increased its position in shares of Pacific Ethanol by 35.1% in the fourth quarter. Coe Capital Management LLC now owns 250,000 shares of the company’s stock valued at $1,195,000 after buying an additional 65,000 shares during the period. Russell Frank Co increased its position 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 period. Finally, Marshall Wace LLP increased 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.
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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