Pacific Ethanol Inc. (PEIX) Sees Large Volume Increase
Shares of Pacific Ethanol Inc. (NASDAQ:PEIX) saw an uptick in trading volume on Tuesday . 445,082 shares traded hands during mid-day trading, a decline of 25% from the previous session’s volume of 590,999 shares.The stock last traded at $5.58 and had previously closed at $5.96.
A number of research firms recently issued reports on PEIX. HC Wainwright reissued a “buy” rating on shares of Pacific Ethanol in a research note on Tuesday, May 24th. Zacks Investment Research downgraded shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Thursday. Roth Capital decreased their price target on shares of Pacific Ethanol from $10.00 to $7.50 and set a “buy” rating for the company in a research note on Monday, March 14th. Finally, Rodman & Renshaw began coverage on shares of Pacific Ethanol in a research note on Tuesday, May 24th. They issued a “buy” rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $9.17.
The firm’s market cap is $240.61 million. The firm has a 50 day moving average price of $5.56 and a 200 day moving average price of $4.50.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.19. During the same period in the prior year, the firm earned ($0.19) earnings per share. The business had revenue of $342.40 million for the quarter, compared to analyst estimates of $360.37 million. The firm’s quarterly revenue was up 66.1% on a year-over-year basis. On average, equities analysts expect that Pacific Ethanol Inc. will post ($0.13) EPS for the current year.
In other Pacific Ethanol news, VP Christopher W. Wright sold 31,000 shares of Pacific Ethanol stock in a transaction on Thursday, June 9th. The shares were 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 directly owns 63,936 shares of the company’s stock, valued at approximately $383,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its position in Pacific Ethanol by 1.3% in the fourth quarter. Marshall Wace LLP now owns 409,972 shares of the company’s stock worth $1,960,000 after buying an additional 5,340 shares in the last quarter. Russell Frank Co boosted its position in Pacific Ethanol by 7.6% in the fourth quarter. Russell Frank Co now owns 542,186 shares of the company’s stock worth $2,489,000 after buying an additional 38,462 shares in the last quarter. GSA Capital Partners LLP boosted its position in Pacific Ethanol by 51.6% in the fourth quarter. GSA Capital Partners LLP now owns 626,253 shares of the company’s stock worth $2,993,000 after buying an additional 213,212 shares in the last quarter. Finally, Boston Partners boosted its position in Pacific Ethanol by 9.6% in the fourth quarter. Boston Partners now owns 2,463,018 shares of the company’s stock worth $11,773,000 after buying an additional 216,550 shares in the last quarter.
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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