Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Down 17.3% in October

Alto Ingredients, Inc. (NASDAQ:ALTOGet Rating) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 2,730,000 shares, a decline of 17.3% from the October 15th total of 3,300,000 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average trading volume of 1,490,000 shares, the days-to-cover ratio is presently 1.8 days.

Hedge Funds Weigh In On Alto Ingredients

Several institutional investors and hedge funds have recently modified their holdings of ALTO. State Street Corp lifted its holdings in shares of Alto Ingredients by 84.5% in the 2nd quarter. State Street Corp now owns 8,862,664 shares of the company’s stock valued at $32,880,000 after buying an additional 4,059,483 shares during the period. Invesco Ltd. lifted its holdings in shares of Alto Ingredients by 334.1% in the 1st quarter. Invesco Ltd. now owns 928,302 shares of the company’s stock valued at $6,331,000 after buying an additional 714,441 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Alto Ingredients in the 1st quarter valued at about $4,429,000. Dimensional Fund Advisors LP lifted its holdings in shares of Alto Ingredients by 43.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,046,461 shares of the company’s stock valued at $13,957,000 after buying an additional 623,433 shares during the period. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Alto Ingredients by 195.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 820,264 shares of the company’s stock valued at $3,043,000 after buying an additional 542,453 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Alto Ingredients Stock Performance

Shares of ALTO opened at $3.64 on Tuesday. The stock has a market cap of $268.37 million, a P/E ratio of 10.40 and a beta of 2.46. The stock has a 50-day moving average of $3.92 and a two-hundred day moving average of $4.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.17 and a current ratio of 2.88. Alto Ingredients has a one year low of $3.38 and a one year high of $7.37.

Analyst Ratings Changes

Separately, TheStreet cut Alto Ingredients from a “b-” rating to a “c” rating in a research report on Tuesday, November 8th.

About Alto Ingredients

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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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