Pacific Ethanol Inc. (PEIX) Trading Down 4.2%
Pacific Ethanol Inc. (NASDAQ:PEIX) was down 4.2% during mid-day trading on Wednesday . The stock traded as low as $6.42 and last traded at $6.46, with a volume of 792,520 shares traded. The stock had previously closed at $6.74.
Several equities research analysts have issued reports on PEIX shares. Rodman & Renshaw started coverage on 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 restated a “buy” rating on shares of Pacific Ethanol in a research report on Tuesday, May 24th. Roth Capital restated a “buy” rating and set a $9.00 target price on shares of Pacific Ethanol in a research report on Monday, August 1st. Finally, Zacks Investment Research downgraded Pacific Ethanol from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $9.13.
The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $5.27. The firm’s market cap is $278.79 million.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.14. The firm had revenue of $422.90 million for the quarter, compared to the consensus estimate of $383.29 million. During the same period last year, the business earned $0.03 EPS. Pacific Ethanol’s revenue was up 85.8% on a year-over-year basis. Analysts expect that Pacific Ethanol Inc. will post $0.04 EPS for the current fiscal year.
In related news, Director William L. Jones sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $6.75, for a total transaction of $101,250.00. Following the completion of the sale, the director now owns 53,624 shares of the company’s stock, valued at $361,962. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher W. Wright sold 31,000 shares of the firm’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 sale, the vice president now directly owns 63,936 shares of the company’s stock, valued at approximately $383,616. The disclosure for this sale can be found here.
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.