Pacific Ethanol Inc. (PEIX) Trading 2.2% Higher
Pacific Ethanol Inc. (NASDAQ:PEIX)’s share price traded up 2.2% during mid-day trading on Monday . The stock traded as high as $7.03 and last traded at $6.97, with a volume of 619,940 shares changing hands. The stock had previously closed at $6.82.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Pacific Ethanol from a “hold” rating to a “strong-buy” rating and set a $7.50 price objective on the stock in a research note on Tuesday, August 2nd. HC Wainwright reissued a “buy” rating on shares of Pacific Ethanol in a research note on Tuesday, May 24th. Rodman & Renshaw assumed 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 on the stock. Finally, Roth Capital reissued a “buy” rating and set a $9.00 price objective on shares of Pacific Ethanol in a research note on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $9.13.
The company has a 50-day moving average of $6.33 and a 200 day moving average of $5.11. The company’s market capitalization is $300.80 million.
Pacific Ethanol (NASDAQ:PEIX) last released its earnings results on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.14. During the same period in the previous year, the business posted $0.03 EPS. The company had revenue of $422.90 million for the quarter, compared to analyst estimates of $383.29 million. The firm’s quarterly revenue was up 85.8% on a year-over-year basis. On average, equities research analysts expect that Pacific Ethanol Inc. will post $0.04 EPS for the current fiscal year.
In other news, VP Christopher W. Wright sold 31,000 shares of Pacific Ethanol stock in a transaction that occurred 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 transaction, the vice president now 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 the SEC website. Also, Director William L. Jones sold 15,000 shares of Pacific Ethanol stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $6.75, for a total transaction of $101,250.00. Following the completion of the transaction, the director now directly owns 53,624 shares in the company, valued at approximately $361,962. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in PEIX. Coe Capital Management LLC boosted its position in shares of Pacific Ethanol by 35.1% in the fourth quarter. Coe Capital Management LLC now owns 250,000 shares of the company’s stock valued at $1,195,000 after buying an additional 65,000 shares in the last quarter. Marshall Wace LLP boosted 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. Finally, Russell Frank Co boosted 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.
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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