Pacific Ethanol, Inc. (PEIX) Stock Price Up 5.1%
Pacific Ethanol, Inc. (NASDAQ:PEIX) rose 5.1% during trading on Wednesday . The stock traded as high as $5.20 and last traded at $5.20. Approximately 626,191 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 677,722 shares. The stock had previously closed at $4.95.
PEIX has been the topic of several research reports. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 11th. ValuEngine cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a research report on Wednesday, June 28th. Finally, Cowen and Company set a $13.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research report on Saturday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Pacific Ethanol currently has an average rating of “Hold” and an average target price of $12.50.
The company’s market cap is $228.65 million. The company’s 50 day moving average is $5.24 and its 200-day moving average is $6.31.
Pacific Ethanol (NASDAQ:PEIX) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.18. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $410.34 million. Pacific Ethanol had a negative return on equity of 3.02% and a negative net margin of 0.72%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. Equities analysts predict that Pacific Ethanol, Inc. will post ($0.38) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of PEIX. Nationwide Fund Advisors boosted its stake in Pacific Ethanol by 210.7% during the first quarter. Nationwide Fund Advisors now owns 81,397 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 55,201 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Pacific Ethanol by 2,697.6% during the first quarter. Acadian Asset Management LLC now owns 77,157 shares of the oil and gas company’s stock worth $529,000 after acquiring an additional 74,399 shares in the last quarter. Strs Ohio boosted its stake in Pacific Ethanol by 31.3% during the first quarter. Strs Ohio now owns 89,800 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 21,400 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Pacific Ethanol by 146.5% during the first quarter. Russell Investments Group Ltd. now owns 435,970 shares of the oil and gas company’s stock worth $2,986,000 after acquiring an additional 259,140 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Pacific Ethanol by 17,614.6% during the first quarter. LSV Asset Management now owns 726,300 shares of the oil and gas company’s stock worth $4,975,000 after acquiring an additional 722,200 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.
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About Pacific Ethanol
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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