Aemetis (NASDAQ:AMTX) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Aemetis, Inc (NASDAQ:AMTX) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.07 and traded as low as $1.47. Aemetis shares last traded at $1.52, with a volume of 569,776 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on AMTX. Ascendiant Capital Markets lowered their price objective on shares of Aemetis from $21.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Aemetis in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Aemetis Price Performance

The firm’s 50 day moving average is $1.52 and its 200 day moving average is $2.07. The firm has a market cap of $100.62 million, a P/E ratio of -0.94 and a beta of 2.66.

Institutional Investors Weigh In On Aemetis

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC raised its position in shares of Aemetis by 48.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,611 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 6,420 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in Aemetis during the 2nd quarter valued at about $25,000. R Squared Ltd purchased a new position in Aemetis in the second quarter worth about $30,000. Creative Planning bought a new position in shares of Aemetis in the second quarter worth approximately $30,000. Finally, Bank of America Corp DE lifted its stake in shares of Aemetis by 62.6% in the third quarter. Bank of America Corp DE now owns 38,526 shares of the specialty chemicals company’s stock worth $87,000 after buying an additional 14,836 shares in the last quarter. 27.02% of the stock is owned by institutional investors.

Aemetis Company Profile

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.