Walleye Capital LLC Invests $2.25 Million in Alto Ingredients, Inc. $ALTO

Walleye Capital LLC purchased a new position in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 465,476 shares of the company’s stock, valued at approximately $2,253,000. Walleye Capital LLC owned about 0.60% of Alto Ingredients at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Alto Ingredients during the 1st quarter worth about $49,000. Vontobel Holding Ltd. acquired a new stake in Alto Ingredients in the 4th quarter valued at about $33,000. Leonteq Securities AG bought a new position in Alto Ingredients in the 4th quarter worth approximately $44,000. CreativeOne Wealth LLC bought a new position in Alto Ingredients in the 4th quarter worth approximately $46,000. Finally, Sagespring Wealth Partners LLC acquired a new position in Alto Ingredients during the 4th quarter worth $72,000. Institutional investors own 42.44% of the company’s stock.

Alto Ingredients Stock Performance

Shares of Alto Ingredients stock opened at $4.97 on Friday. The firm has a fifty day moving average of $5.31 and a two-hundred day moving average of $4.30. The stock has a market capitalization of $385.13 million, a price-to-earnings ratio of 13.43 and a beta of 0.13. Alto Ingredients, Inc. has a 52 week low of $0.92 and a 52 week high of $6.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.54 and a current ratio of 3.81.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.13. Alto Ingredients had a return on equity of 9.77% and a net margin of 3.20%.The business had revenue of $224.68 million for the quarter, compared to analyst estimates of $215.65 million. As a group, equities research analysts predict that Alto Ingredients, Inc. will post 0.54 EPS for the current year.

Wall Street Analyst Weigh In

ALTO has been the topic of several research reports. Zacks Research lowered Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. HC Wainwright lifted their price objective on Alto Ingredients from $5.50 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Alto Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Alto Ingredients presently has an average rating of “Hold” and an average price target of $10.00.

Insiders Place Their Bets

In related news, Director Gilbert E. Nathan bought 20,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $4.61 per share, with a total value of $92,200.00. Following the completion of the purchase, the director owned 769,741 shares of the company’s stock, valued at $3,548,506.01. This represents a 2.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.28% of the company’s stock.

Alto Ingredients Company Profile

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.