Royce & Associates LP Buys Shares of 75,000 Pacific Ethanol Inc. (PEIX)
Royce & Associates LP bought a new stake in shares of Pacific Ethanol Inc. (NASDAQ:PEIX) during the second quarter, Holdings Channel reports. The institutional investor bought 75,000 shares of the company’s stock, valued at approximately $409,000. Royce & Associates LP owned about 0.17% of Pacific Ethanol as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in PEIX. Goldman Sachs Group Inc. increased its stake in shares of Pacific Ethanol by 37.5% in the first quarter. Goldman Sachs Group Inc. now owns 37,765 shares of the company’s stock valued at $177,000 after buying an additional 10,308 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in Pacific Ethanol during the second quarter valued at about $282,000. Investors Capital Advisory Services increased its stake in Pacific Ethanol by 6.0% in the second quarter. Investors Capital Advisory Services now owns 52,327 shares of the company’s stock valued at $285,000 after buying an additional 2,950 shares in the last quarter. DIAM Co. Ltd. increased its stake in Pacific Ethanol by 56.5% in the second quarter. DIAM Co. Ltd. now owns 106,700 shares of the company’s stock valued at $582,000 after buying an additional 38,500 shares in the last quarter. Finally, UBS Group AG increased its stake in Pacific Ethanol by 4,800.6% in the first quarter. UBS Group AG now owns 126,398 shares of the company’s stock valued at $592,000 after buying an additional 129,087 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.
Shares of Pacific Ethanol Inc. (NASDAQ:PEIX) traded up 1.99% on Thursday, hitting $6.66. The stock had a trading volume of 230,209 shares. Pacific Ethanol Inc. has a 1-year low of $2.41 and a 1-year high of $7.64. The stock’s market cap is $287.43 million. The firm’s 50-day moving average is $6.63 and its 200 day moving average is $5.54.
Pacific Ethanol (NASDAQ:PEIX) last issued its earnings results on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.14. Pacific Ethanol had a negative return on equity of 4.18% and a negative net margin of 1.55%. The firm had revenue of $422.90 million for the quarter, compared to the consensus estimate of $383.29 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s quarterly revenue was up 85.8% compared to the same quarter last year. Equities analysts forecast that Pacific Ethanol Inc. will post $0.04 EPS for the current year.
Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Pacific Ethanol from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 25th. Roth Capital restated a “buy” rating and set a $9.00 price objective on shares of Pacific Ethanol in a report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Pacific Ethanol has a consensus rating of “Buy” and an average price target of $9.13.
In other news, Director William L. Jones sold 15,000 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was 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 in the company, valued at approximately $361,962. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Prince sold 17,745 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $6.64, for a total value of $117,826.80. Following the sale, the director now owns 28,801 shares of the company’s stock, valued at approximately $191,238.64. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
Pacific Ethanol Company Profile
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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