Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Large Drop in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTOGet Free Report) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,110,000 shares, a decrease of 14.6% from the April 30th total of 1,300,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 531,300 shares, the short-interest ratio is presently 2.1 days.

Hedge Funds Weigh In On Alto Ingredients

Several large investors have recently modified their holdings of ALTO. Charles Schwab Investment Management Inc. grew its stake in Alto Ingredients by 19.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,494,032 shares of the company’s stock valued at $6,634,000 after buying an additional 413,116 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Alto Ingredients by 8.6% during the first quarter. Acadian Asset Management LLC now owns 585,846 shares of the company’s stock worth $1,276,000 after acquiring an additional 46,454 shares during the period. Jump Financial LLC acquired a new position in shares of Alto Ingredients in the fourth quarter valued at approximately $560,000. Empowered Funds LLC acquired a new stake in Alto Ingredients during the 1st quarter worth approximately $286,000. Finally, Barclays PLC lifted its holdings in Alto Ingredients by 210.5% during the 3rd quarter. Barclays PLC now owns 106,345 shares of the company’s stock worth $471,000 after purchasing an additional 72,092 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $5.50 target price on shares of Alto Ingredients in a research note on Tuesday, May 7th.

View Our Latest Stock Analysis on Alto Ingredients

Alto Ingredients Trading Down 0.7 %

Shares of NASDAQ:ALTO opened at $1.47 on Friday. Alto Ingredients has a 52-week low of $1.47 and a 52-week high of $4.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.97 and a current ratio of 2.74. The company has a market capitalization of $111.28 million, a P/E ratio of -3.87 and a beta of 1.92. The company has a 50-day simple moving average of $1.89 and a 200 day simple moving average of $2.16.

Alto Ingredients (NASDAQ:ALTOGet Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. Alto Ingredients had a negative return on equity of 7.18% and a negative net margin of 2.31%. The company had revenue of $240.63 million during the quarter, compared to analysts’ expectations of $199.56 million. During the same period last year, the firm posted ($0.17) earnings per share. Sell-side analysts forecast that Alto Ingredients will post -0.17 earnings per share for the current year.

About Alto Ingredients

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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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