Pacific Ethanol Inc. (PEIX) Shares Down 4.6%
Pacific Ethanol Inc. (NASDAQ:PEIX) fell 4.6% on Wednesday . The stock traded as low as $6.81 and last traded at $6.83, with a volume of 390,533 shares traded. The stock had previously closed at $7.16.
PEIX has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating on shares of Pacific Ethanol in a research note on Tuesday, May 24th. Zacks Investment Research cut Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Roth Capital reiterated a “buy” rating and issued a $9.00 price target on shares of Pacific Ethanol in a research note on Monday, August 1st. Finally, Rodman & Renshaw started coverage on Pacific Ethanol in a research note on Tuesday, May 24th. They set a “buy” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Pacific Ethanol has an average rating of “Buy” and an average price target of $9.13.
The stock’s 50 day moving average is $6.41 and its 200 day moving average is $5.16. The stock’s market cap is $289.58 million.
Pacific Ethanol (NASDAQ:PEIX) last released its earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. During the same period last year, the business earned $0.03 earnings per share. The firm 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% compared to the same quarter last year. On average, equities analysts expect that Pacific Ethanol Inc. will post $0.04 EPS for the current fiscal year.
In other news, Director William L. Jones sold 15,000 shares of Pacific Ethanol stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $6.75, for a total value of $101,250.00. Following the completion of the transaction, the director now owns 53,624 shares in the company, valued at $361,962. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $186,000.00. Following the completion of the transaction, the vice president now owns 63,936 shares of the company’s stock, valued at approximately $383,616. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Pacific Ethanol stock. Marshall Wace LLP boosted its position in shares of Pacific Ethanol Inc. (NASDAQ:PEIX) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 409,972 shares of the company’s stock after buying an additional 5,340 shares during the period. Marshall Wace LLP owned about 0.96% of Pacific Ethanol worth $1,960,000 at the end of the most recent reporting 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.