Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Up 76.2% in October

by · The Markets Daily

Alto Ingredients, Inc. (NASDAQ:ALTO – Get Free Report) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 886,700 shares, an increase of 76.2% from the September 30th total of 503,300 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily volume of 475,800 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $5.50 target price on shares of Alto Ingredients in a research note on Wednesday, August 7th.

View Our Latest Report on Alto Ingredients

Institutional Investors Weigh In On Alto Ingredients

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Alto Ingredients in the first quarter worth approximately $62,000. Virtu Financial LLC purchased a new position in shares of Alto Ingredients during the 1st quarter worth $68,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Alto Ingredients during the 1st quarter valued at $131,000. Marshall Wace LLP purchased a new stake in shares of Alto Ingredients in the 2nd quarter worth $202,000. Finally, Empowered Funds LLC purchased a new stake in shares of Alto Ingredients in the 1st quarter worth $286,000. 42.44% of the stock is currently owned by institutional investors.

Alto Ingredients Trading Down 0.6 %

Shares of ALTO stock opened at $1.71 on Monday. The company has a current ratio of 3.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. Alto Ingredients has a 12-month low of $1.28 and a 12-month high of $4.98. The stock has a market capitalization of $130.80 million, a P/E ratio of -3.23 and a beta of 1.98. The firm’s 50 day moving average is $1.57 and its 200 day moving average is $1.58.

Alto Ingredients (NASDAQ:ALTO – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $236.47 million for the quarter, compared to the consensus estimate of $236.17 million. Alto Ingredients had a negative return on equity of 11.26% and a negative net margin of 3.49%. During the same period last year, the business posted $0.10 EPS. Research analysts expect that Alto Ingredients will post -0.04 earnings per share for the current year.

Alto Ingredients Company Profile

(Get Free Report)

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.

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