Kennedy Capital Management Inc. Raises Position in Pacific Ethanol, Inc. (PEIX)
Kennedy Capital Management Inc. boosted its holdings in Pacific Ethanol, Inc. (NASDAQ:PEIX) by 93.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 684,688 shares of the oil and gas company’s stock after acquiring an additional 331,284 shares during the period. Kennedy Capital Management Inc. owned 1.62% of Pacific Ethanol worth $4,279,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. acquired a new stake in Pacific Ethanol in the 2nd quarter valued at about $100,000. Prudential Financial Inc. grew its stake in Pacific Ethanol by 98.8% in the 2nd quarter. Prudential Financial Inc. now owns 675,471 shares of the oil and gas company’s stock valued at $4,221,000 after acquiring an additional 335,748 shares during the last quarter. Candlewood Investment Group LP grew its stake in Pacific Ethanol by 19.3% in the 2nd quarter. Candlewood Investment Group LP now owns 3,254,318 shares of the oil and gas company’s stock valued at $20,339,000 after acquiring an additional 526,901 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Pacific Ethanol by 30.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 232,445 shares of the oil and gas company’s stock valued at $1,453,000 after acquiring an additional 54,866 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its stake in Pacific Ethanol by 24.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 400,409 shares of the oil and gas company’s stock valued at $2,503,000 after acquiring an additional 78,400 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) opened at 5.20 on Friday. The firm’s market capitalization is $228.65 million. Pacific Ethanol, Inc. has a 1-year low of $4.15 and a 1-year high of $10.95. The firm’s 50 day moving average is $5.02 and its 200 day moving average is $6.20.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data 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 analyst estimates of $410.34 million. Pacific Ethanol had a negative return on equity of 3.02% and a negative net margin of 0.72%. Pacific Ethanol’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. Analysts anticipate that Pacific Ethanol, Inc. will post ($0.38) EPS for the current fiscal year.
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A number of equities research analysts recently commented on PEIX shares. ValuEngine cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Cowen and Company set a $13.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research note on Saturday, July 29th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Pacific Ethanol has an average rating of “Hold” and an average price target of $12.50.
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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