Pacific Ethanol Inc. (PEIX) Stock Price Down 3.2%
Shares of Pacific Ethanol Inc. (NASDAQ:PEIX) fell 3.2% during trading on Thursday . The stock traded as low as $5.79 and last traded at $5.84, with a volume of 609,785 shares trading hands. The stock had previously closed at $6.03.
Several brokerages have commented on PEIX. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. HC Wainwright restated a “buy” rating on shares of Pacific Ethanol in a research note on Tuesday, May 24th. Finally, Rodman & Renshaw began coverage on shares of Pacific Ethanol in a research note on Tuesday, May 24th. They set a “buy” rating and a $11.00 price objective 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. Pacific Ethanol presently has a consensus rating of “Buy” and an average target price of $9.17.
The stock’s market capitalization is $250.03 million. The firm’s 50-day moving average is $5.73 and its 200-day moving average is $4.60.
Pacific Ethanol (NASDAQ:PEIX) last released its earnings results on Wednesday, May 4th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.19. The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $360.37 million. The business’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) EPS. On average, equities research analysts anticipate that Pacific Ethanol Inc. will post ($0.13) earnings per share for the current year.
In related news, VP Christopher W. Wright sold 31,000 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $6.00, for a total transaction of $186,000.00. Following the sale, the vice president now directly owns 63,936 shares in the company, valued at $383,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of institutional investors recently made changes to their positions in PEIX. GSA Capital Partners LLP raised its position 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 in the last quarter. Boston Partners raised its position 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 in the last quarter. Russell Frank Co raised its position 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 in the last quarter. Finally, Marshall Wace LLP raised its position 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 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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