Pacific Ethanol Inc. (PEIX) Stock Price Down 2.3%
Pacific Ethanol Inc. (NASDAQ:PEIX)’s share price dropped 2.3% on Thursday . The stock traded as low as $5.87 and last traded at $5.95, with a volume of 364,366 shares. The stock had previously closed at $6.09.
PEIX has been the subject of several research analyst reports. Zacks Investment Research cut Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Rodman & Renshaw initiated coverage on Pacific Ethanol in a research report on Tuesday, May 24th. They set a “buy” rating and a $11.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating on shares of Pacific Ethanol in a research report on Tuesday, May 24th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $9.17.
The stock’s 50-day moving average is $5.74 and its 200 day moving average is $4.55. The stock’s market cap is $254.74 million.
Pacific Ethanol (NASDAQ:PEIX) last posted its earnings results on Wednesday, May 4th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.13) by $0.19. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $360.37 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. Pacific Ethanol’s quarterly revenue was up 66.1% compared to the same quarter last year. Equities research analysts anticipate that Pacific Ethanol Inc. will post ($0.13) EPS for the current fiscal year.
In other news, VP Christopher W. Wright sold 31,000 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $6.00, for a total transaction of $186,000.00. Following the completion of the sale, the vice president now directly owns 63,936 shares of the company’s stock, valued at $383,616. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Other large investors have bought and sold shares of the company. Marshall Wace LLP increased its stake in 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 last quarter. Russell Frank Co increased 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 worth $2,489,000 after buying an additional 38,462 shares during the last quarter. GSA Capital Partners LLP increased 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 worth $2,993,000 after buying an additional 213,212 shares during the last quarter. Finally, Boston Partners increased 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 worth $11,773,000 after buying an additional 216,550 shares during 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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