Alto Ingredients, Inc. (NASDAQ:ALTO – Free Report) – HC Wainwright increased their Q3 2024 earnings estimates for shares of Alto Ingredients in a report released on Tuesday, May 7th. HC Wainwright analyst A. Dayal now anticipates that the company will post earnings of $0.01 per share for the quarter, up from their previous estimate of ($0.03). HC Wainwright has a “Buy” rating and a $5.50 price objective on the stock. The consensus estimate for Alto Ingredients’ current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for Alto Ingredients’ FY2024 earnings at ($0.17) EPS.
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. Alto Ingredients had a negative return on equity of 7.32% and a negative net margin of 2.29%. The business had revenue of $240.63 million during the quarter, compared to the consensus estimate of $199.56 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share.
Alto Ingredients Stock Up 4.1 %
Institutional Investors Weigh In On Alto Ingredients
Several hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in Alto Ingredients during the first quarter worth approximately $131,000. SG Americas Securities LLC purchased a new stake in shares of Alto Ingredients during the 1st quarter valued at $62,000. Empowered Funds LLC acquired a new stake in shares of Alto Ingredients during the 1st quarter worth $286,000. Tower Research Capital LLC TRC raised its position in shares of Alto Ingredients by 959.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 23,955 shares of the company’s stock worth $64,000 after buying an additional 21,693 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Alto Ingredients in the fourth quarter valued at $135,000. 42.44% of the stock is owned by institutional investors and hedge funds.
About Alto Ingredients
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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