Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Declines By 25.4%

Alto Ingredients, Inc. (NASDAQ:ALTOGet Rating) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 8,120,000 shares, a decline of 25.4% from the March 15th total of 10,890,000 shares. Based on an average daily volume of 2,300,000 shares, the short-interest ratio is presently 3.5 days. Approximately 11.6% of the shares of the stock are short sold.

Alto Ingredients stock opened at $7.08 on Monday. Alto Ingredients has a twelve month low of $4.39 and a twelve month high of $7.37. The stock’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $5.51. The company has a current ratio of 3.30, a quick ratio of 2.52 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $521.99 million, a P/E ratio of 11.61 and a beta of 2.66.

Alto Ingredients (NASDAQ:ALTOGet Rating) last posted its quarterly earnings data on Thursday, March 10th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.40. Alto Ingredients had a return on equity of 14.30% and a net margin of 3.82%. The business had revenue of $385.49 million for the quarter, compared to analyst estimates of $314.10 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. Sell-side analysts predict that Alto Ingredients will post 0.26 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. purchased a new position in Alto Ingredients in the third quarter valued at $246,000. Teacher Retirement System of Texas acquired a new stake in shares of Alto Ingredients during the third quarter worth about $573,000. Dimensional Fund Advisors LP lifted its position in Alto Ingredients by 62.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,008,610 shares of the company’s stock valued at $4,982,000 after purchasing an additional 387,073 shares during the period. Banque Cantonale Vaudoise lifted its position in Alto Ingredients by 199.9% in the third quarter. Banque Cantonale Vaudoise now owns 6,001 shares of the company’s stock valued at $30,000 after purchasing an additional 4,000 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Alto Ingredients in the third quarter valued at about $79,000. 59.67% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on ALTO. Zacks Investment Research upgraded Alto Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 11th. TheStreet upgraded Alto Ingredients from a “c-” rating to a “b-” rating in a report on Friday, March 11th.

Alto Ingredients Company Profile (Get Rating)

Alto Ingredients, Inc produces and markets specialty alcohols and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Production, and Other 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, flavor extracts, and vinegar, as well as corn germ used in corn oils and carbon dioxide for food and beverage markets; and essential ingredients include dried yeast, corn gluten meal, corn gluten feed, distillers grains, and liquid feed for commercial animal feed and pet food applications.

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