Pacific Ethanol Inc. (PEIX) Trading 6.4% Higher
Shares of Pacific Ethanol Inc. (NASDAQ:PEIX) traded up 6.4% during trading on Tuesday . The company traded as high as $6.18 and last traded at $6.13, with a volume of 383,580 shares traded. The stock had previously closed at $5.76.
A number of analysts recently commented on the company. Zacks Investment Research cut Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 7th. HC Wainwright reissued a “buy” rating on shares of Pacific Ethanol in a research note on Tuesday, May 24th. Rodman & Renshaw assumed coverage on Pacific Ethanol in a research note on Tuesday, May 24th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Roth Capital decreased their price target on Pacific Ethanol from $10.00 to $7.50 and set a “buy” rating on the stock in a research note on Monday, March 14th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $9.17.
The stock has a 50 day moving average price of $5.67 and a 200 day moving average price of $4.52. The firm’s market cap is $261.16 million.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.19. During the same period last year, the business posted ($0.19) EPS. The firm earned $342.40 million during the quarter, compared to analyst estimates of $360.37 million. The firm’s revenue for the quarter was up 66.1% on a year-over-year basis. On average, equities research analysts predict that Pacific Ethanol Inc. will post ($0.13) earnings per share for the current year.
In other news, VP Christopher W. Wright sold 31,000 shares of the company’s 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 sale, the vice president now owns 63,936 shares in the company, valued at $383,616. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several hedge funds have recently made changes to their positions in PEIX. Marshall Wace LLP raised its stake in shares of 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. GSA Capital Partners LLP raised its stake in shares of Pacific Ethanol by 51.6% in the fourth quarter. GSA Capital Partners LLP now owns 626,253 shares of the company’s stock valued at $2,993,000 after buying an additional 213,212 shares during the period. Boston Partners raised its stake in shares of Pacific Ethanol by 9.6% in the fourth quarter. Boston Partners now owns 2,463,018 shares of the company’s stock valued at $11,773,000 after buying an additional 216,550 shares during the period. Finally, Russell Frank Co raised its stake in shares of 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.
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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