Pacific Ethanol Inc. (PEIX) Shares Down 4.6%
Pacific Ethanol Inc. (NASDAQ:PEIX) shares dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $6.81 and last traded at $6.83, with a volume of 390,533 shares traded. The stock had previously closed at $7.16.
PEIX has been the subject of several research reports. Roth Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Pacific Ethanol in a research note on Monday, August 1st. Zacks Investment Research downgraded Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Rodman & Renshaw initiated coverage on Pacific Ethanol in a research note on Tuesday, May 24th. They set a “buy” rating and a $11.00 price target for the company. 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 hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.13.
The firm’s 50-day moving average is $6.35 and its 200 day moving average is $5.14. The stock’s market capitalization is $287.86 million.
Pacific Ethanol (NASDAQ:PEIX) last issued its earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.14. The company earned $422.90 million during the quarter, compared to analyst estimates of $383.29 million. Pacific Ethanol’s quarterly revenue was up 85.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share. On average, analysts expect that Pacific Ethanol Inc. will post $0.04 earnings per share for the current fiscal year.
In other news, VP Christopher W. Wright sold 31,000 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 63,936 shares of the company’s stock, valued at $383,616. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William L. Jones sold 15,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $6.75, for a total value of $101,250.00. Following the completion of the transaction, the director now directly owns 53,624 shares of the company’s stock, valued at approximately $361,962. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Pacific Ethanol stock. Coe Capital Management LLC raised its stake in Pacific Ethanol Inc. (NASDAQ:PEIX) by 35.1% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 250,000 shares of the company’s stock after buying an additional 65,000 shares during the period. Coe Capital Management LLC owned approximately 0.59% of Pacific Ethanol worth $1,195,000 as of its most recent SEC filing.
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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