Alto Ingredients (NASDAQ:ALTO) Upgraded at Benchmark

Alto Ingredients (NASDAQ:ALTO) was upgraded by investment analysts at Benchmark to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Other equities analysts have also recently issued reports about the company. Zacks Research cut Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Scotiabank set a $10.00 price target on shares of Alto Ingredients in a report on Thursday, August 6th. HC Wainwright reissued a “buy” rating on shares of Alto Ingredients in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alto Ingredients in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Alto Ingredients Stock Up 1.7%

NASDAQ ALTO opened at $3.69 on Wednesday. Alto Ingredients has a 1 year low of $0.99 and a 1 year high of $6.11. The stock has a market capitalization of $286.23 million, a PE ratio of 5.51 and a beta of 0.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.19 and a quick ratio of 2.17. The business’s 50-day moving average is $4.18 and its 200 day moving average is $4.76.

Alto Ingredients (NASDAQ:ALTO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. Alto Ingredients had a return on equity of 18.54% and a net margin of 5.51%.The business had revenue of $245.70 million during the quarter, compared to analyst estimates of $231.24 million. Sell-side analysts forecast that Alto Ingredients will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Alto Ingredients

In other Alto Ingredients news, Director Gilbert Nathan bought 50,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $4.15 per share, with a total value of $207,500.00. Following the completion of the purchase, the director owned 856,393 shares of the company’s stock, valued at approximately $3,554,030.95. This trade represents a 6.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Institutional Trading of Alto Ingredients

A number of hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd raised its stake in Alto Ingredients by 33.8% during the second quarter. WINTON GROUP Ltd now owns 24,075 shares of the company’s stock valued at $137,000 after buying an additional 6,075 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Alto Ingredients in the second quarter worth $156,000. Empowered Funds LLC purchased a new stake in shares of Alto Ingredients in the second quarter worth $2,527,000. Public Employees Retirement System of Ohio bought a new position in shares of Alto Ingredients during the second quarter valued at $112,000. Finally, Bank of America Corp DE bought a new position in shares of Alto Ingredients during the second quarter valued at $243,000. 42.44% of the stock is owned by institutional investors.

Alto Ingredients Company Profile

Alto Ingredients, Inc is a renewable fuels and specialty alcohols company that produces and markets low-carbon ethanol and related products. Its offerings are used as transportation fuel, fuel additives, industrial and beverage alcohol, and in other commercial applications.

The company also produces co-products from its ethanol manufacturing operations, including distillers grains used as animal feed and corn oil used in feed, fuel and industrial markets. Alto Ingredients has pursued opportunities to develop lower-carbon products and improve the value of its agricultural and renewable fuel operations.

Previously known as Pacific Ethanol, the company adopted the Alto Ingredients name in 2020 to reflect its broader focus beyond conventional ethanol production.