Pacific Ethanol Inc. (PEIX) Trading 4.1% Higher
Shares of Pacific Ethanol Inc. (NASDAQ:PEIX) traded up 4.1% during trading on Monday . The stock traded as high as $6.99 and last traded at $6.85, with a volume of 444,361 shares changing hands. The stock had previously closed at $6.58.
Several analysts recently commented on the stock. HC Wainwright restated a “buy” rating on shares of Pacific Ethanol in a research report on Tuesday, May 24th. Zacks Investment Research lowered shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Roth Capital restated a “buy” rating and set a $9.00 price target on shares of Pacific Ethanol in a research report on Monday, August 1st. Finally, Rodman & Renshaw assumed coverage on shares of Pacific Ethanol in a research report on Tuesday, May 24th. They set a “buy” rating and a $11.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.13.
The stock’s 50 day moving average is $5.94 and its 200 day moving average is $4.88. The company’s market cap is $290.88 million.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.14. The company had revenue of $422.90 million for the quarter, compared to analysts’ expectations of $383.29 million. The firm’s quarterly revenue was up 85.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. Equities research analysts forecast that Pacific Ethanol Inc. will post $0.04 EPS for the current year.
In other news, VP Christopher W. Wright sold 31,000 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $6.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds have added to or reduced their stakes in the company. Coe Capital Management LLC increased its stake in 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 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 period. Finally, Marshall Wace LLP increased 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 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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