Pacific Ethanol Inc. (PEIX) Shares Down 2.3%
Shares of Pacific Ethanol Inc. (NASDAQ:PEIX) were down 2.3% during mid-day trading on Thursday . The stock traded as low as $5.87 and last traded at $5.95, with a volume of 364,366 shares traded. The stock had previously closed at $6.09.
PEIX has been the topic of several analyst reports. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Rodman & Renshaw initiated coverage on shares of Pacific Ethanol in a report on Tuesday, May 24th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Pacific Ethanol in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.17.
The company’s 50-day moving average is $5.74 and its 200 day moving average is $4.56. The company’s market cap is $255.17 million.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly 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. During the same period last year, the business earned ($0.19) EPS. The business earned $342.40 million during the quarter, compared to the consensus estimate of $360.37 million. Pacific Ethanol’s revenue for the quarter 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 Pacific Ethanol news, VP Christopher W. Wright sold 31,000 shares of Pacific Ethanol stock in a transaction dated 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 approximately $383,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds have bought and sold shares of the stock. Boston Partners boosted its stake in 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. GSA Capital Partners LLP boosted its stake in 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. Russell Frank Co boosted its stake in 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. Finally, Marshall Wace LLP boosted 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.