Green Plains (NASDAQ:GPRE) Shares Down 5.6% – Here’s What Happened

Green Plains, Inc. (NASDAQ:GPRE) fell 5.6% during trading on Thursday . The company traded as low as $14.91 and last traded at $15.01. 797,274 shares changed hands during trading, a decline of 49% from the average session volume of 1,556,063 shares. The stock had previously closed at $15.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GPRE shares. Stephens increased their price target on shares of Green Plains from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. BMO Capital Markets lifted their target price on shares of Green Plains from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Plains in a research note on Tuesday, April 21st. Oppenheimer reiterated an “outperform” rating and set a $20.00 price objective on shares of Green Plains in a report on Friday, May 8th. Finally, Wall Street Zen raised Green Plains from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Green Plains presently has an average rating of “Hold” and a consensus price target of $14.29.

Green Plains Price Performance

The company’s 50-day simple moving average is $16.21 and its 200 day simple moving average is $13.53. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -45.36 and a beta of 1.19.

Green Plains (NASDAQ:GPRE) last issued its quarterly earnings data on Thursday, May 7th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.43. Green Plains had a positive return on equity of 2.86% and a negative net margin of 0.80%.The company had revenue of $445.80 million during the quarter, compared to analysts’ expectations of $532.53 million. During the same period last year, the business earned ($1.14) earnings per share. The business’s revenue was down 25.9% on a year-over-year basis. Equities research analysts forecast that Green Plains, Inc. will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Green Plains

A number of hedge funds and other institutional investors have recently bought and sold shares of GPRE. Tudor Investment Corp ET AL bought a new stake in Green Plains during the 3rd quarter worth about $3,351,000. Citigroup Inc. lifted its position in shares of Green Plains by 263.1% during the third quarter. Citigroup Inc. now owns 457,280 shares of the specialty chemicals company’s stock worth $4,019,000 after purchasing an additional 331,326 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Green Plains during the third quarter worth approximately $924,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Green Plains during the third quarter valued at approximately $868,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Green Plains by 825.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 436,228 shares of the specialty chemicals company’s stock valued at $4,275,000 after purchasing an additional 389,102 shares in the last quarter.

About Green Plains

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.