Green Plains (NASDAQ:GPRE) Sets New 1-Year Low After Analyst Downgrade

Green Plains Inc. (NASDAQ:GPRE) shares reached a new 52-week low on Tuesday after Bank of America lowered their price target on the stock from $29.00 to $26.00. Bank of America currently has a buy rating on the stock. Green Plains traded as low as $19.27 and last traded at $19.28, with a volume of 2243970 shares. The stock had previously closed at $19.90.

GPRE has been the topic of a number of other research reports. Truist Financial reissued a “buy” rating and issued a $35.00 target price on shares of Green Plains in a research note on Tuesday, March 26th. TheStreet cut Green Plains from a “c-” rating to a “d+” rating in a report on Wednesday, February 7th. BMO Capital Markets cut their target price on Green Plains from $25.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday. UBS Group lowered their price target on Green Plains from $33.50 to $31.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Finally, StockNews.com cut Green Plains from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Insiders Place Their Bets

In related news, Director Ejnar A. Knudsen III purchased 4,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $24.73 per share, with a total value of $98,920.00. Following the completion of the acquisition, the director now directly owns 40,913 shares in the company, valued at approximately $1,011,778.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Green Plains

Several hedge funds have recently added to or reduced their stakes in GPRE. Quest Partners LLC acquired a new position in shares of Green Plains in the 4th quarter valued at $26,000. Covestor Ltd lifted its stake in Green Plains by 50.4% in the third quarter. Covestor Ltd now owns 2,546 shares of the specialty chemicals company’s stock valued at $76,000 after buying an additional 853 shares during the period. Headlands Technologies LLC bought a new position in Green Plains during the fourth quarter worth about $88,000. iA Global Asset Management Inc. acquired a new position in shares of Green Plains during the 3rd quarter worth about $164,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Green Plains in the 4th quarter valued at about $196,000.

Green Plains Stock Down 3.1 %

The business’s 50-day moving average is $21.56 and its two-hundred day moving average is $23.31. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -15.67 and a beta of 1.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.75.

Green Plains (NASDAQ:GPRE) last posted its earnings results on Friday, May 3rd. The specialty chemicals company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.48). Green Plains had a negative return on equity of 7.86% and a negative net margin of 2.43%. The firm had revenue of $597.20 million during the quarter, compared to analyst estimates of $654.40 million. During the same quarter last year, the business posted ($1.20) earnings per share. The company’s revenue for the quarter was down 28.3% on a year-over-year basis. On average, equities analysts anticipate that Green Plains Inc. will post 0.28 earnings per share for the current year.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.