Shares of Pacific Ethanol Inc (NASDAQ:PEIX) dropped 5.1% on Thursday . The company traded as low as $2.32 and last traded at $2.48. Approximately 53,022 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 606,388 shares. The stock had previously closed at $2.36.

PEIX has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Pacific Ethanol in a research report on Monday, July 16th. Zacks Investment Research raised Pacific Ethanol from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Wednesday, July 11th. B. Riley set a $7.00 price target on Pacific Ethanol and gave the stock a “buy” rating in a research report on Sunday, August 12th. Finally, ValuEngine raised Pacific Ethanol from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd.

The company has a debt-to-equity ratio of 0.66, a current ratio of 2.21 and a quick ratio of 1.54. The stock has a market capitalization of $85.41 million, a price-to-earnings ratio of -2.68 and a beta of 1.87.

Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data on Wednesday, August 8th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.12). Pacific Ethanol had a negative return on equity of 9.12% and a negative net margin of 2.09%. The business had revenue of $410.52 million for the quarter, compared to analyst estimates of $434.65 million. On average, equities research analysts predict that Pacific Ethanol Inc will post -0.57 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its position in shares of Pacific Ethanol by 24.0% during the 1st quarter. California Public Employees Retirement System now owns 114,573 shares of the oil and gas company’s stock worth $344,000 after purchasing an additional 22,179 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Pacific Ethanol by 184.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 53,200 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 34,500 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Pacific Ethanol by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 580,614 shares of the oil and gas company’s stock worth $1,742,000 after purchasing an additional 47,570 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Pacific Ethanol during the 2nd quarter worth about $154,000. Finally, Foundry Partners LLC lifted its position in shares of Pacific Ethanol by 5.6% during the 2nd quarter. Foundry Partners LLC now owns 1,148,471 shares of the oil and gas company’s stock worth $2,986,000 after purchasing an additional 61,281 shares during the last quarter. 64.94% of the stock is owned by institutional investors and hedge funds.

Pacific Ethanol Company Profile (NASDAQ:PEIX)

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; specialty alcohols; and co-products, such as wet distillers grains, dry distillers grains with solubles, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.

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