Green Plains (NASDAQ:GPRE) Trading 6.8% Higher – Here’s What Happened

Green Plains, Inc. (NASDAQ:GPRE)’s stock price rose 6.8% during mid-day trading on Tuesday . The stock traded as high as $11.30 and last traded at $11.3530. Approximately 452,521 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 924,842 shares. The stock had previously closed at $10.63.

Analysts Set New Price Targets

Several brokerages have issued reports on GPRE. Oppenheimer set a $15.00 price target on Green Plains and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Tudor Pickering raised Green Plains from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Bank of America boosted their price objective on shares of Green Plains from $7.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, October 14th. Roth Capital lowered shares of Green Plains from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Green Plains from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.

Green Plains Stock Performance

The firm has a market capitalization of $782.79 million, a P/E ratio of -3.84, a PEG ratio of 1.21 and a beta of 1.44. The company has a 50-day simple moving average of $9.95 and a two-hundred day simple moving average of $9.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.68.

Green Plains (NASDAQ:GPRE) last posted its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.48. The business had revenue of $508.49 million during the quarter, compared to the consensus estimate of $583.55 million. Green Plains had a negative return on equity of 16.78% and a negative net margin of 8.37%.The firm’s quarterly revenue was down 22.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, equities analysts forecast that Green Plains, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Green Plains

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Green Plains by 6.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,936 shares of the specialty chemicals company’s stock worth $175,000 after acquiring an additional 1,128 shares during the period. Rhumbline Advisers boosted its position in Green Plains by 1.3% in the second quarter. Rhumbline Advisers now owns 100,159 shares of the specialty chemicals company’s stock worth $604,000 after purchasing an additional 1,246 shares during the last quarter. WealthPlan Investment Management LLC grew its stake in shares of Green Plains by 15.0% during the 2nd quarter. WealthPlan Investment Management LLC now owns 11,666 shares of the specialty chemicals company’s stock valued at $70,000 after purchasing an additional 1,519 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Green Plains by 19.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,122 shares of the specialty chemicals company’s stock valued at $61,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Green Plains by 46.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,789 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 1,838 shares during the last quarter.

Green Plains Company Profile

Green Plains Inc is a leading producer of fuel-grade ethanol and related co-products in the United States. Headquartered in Omaha, Nebraska, the company operates an integrated network of biorefineries that convert corn and other grains into renewable fuels. Through its production facilities, Green Plains supplies ethanol to domestic fuel markets and export channels, supporting efforts to reduce greenhouse gas emissions and promote cleaner-burning transportation options.

Beyond ethanol, Green Plains manufactures a range of co-products that add value throughout the agricultural supply chain.