HC Wainwright Forecasts Lower Earnings for Alto Ingredients

Alto Ingredients, Inc. (NASDAQ:ALTO) – Equities researchers at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for shares of Alto Ingredients in a note issued to investors on Thursday, November 7th. HC Wainwright analyst A. Dayal now expects that the company will earn ($0.37) per share for the year, down from their prior estimate of ($0.04). HC Wainwright currently has a “Buy” rating and a $5.50 target price on the stock. The consensus estimate for Alto Ingredients’ current full-year earnings is ($0.04) per share. HC Wainwright also issued estimates for Alto Ingredients’ Q4 2024 earnings at ($0.12) EPS.

Alto Ingredients Stock Up 7.4 %

ALTO opened at $1.30 on Monday. Alto Ingredients has a 12 month low of $1.18 and a 12 month high of $3.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.09 and a quick ratio of 2.09. The stock has a market cap of $99.44 million, a P/E ratio of -2.50 and a beta of 1.97. The stock’s 50 day moving average price is $1.63 and its 200 day moving average price is $1.57.

Alto Ingredients (NASDAQ:ALTO) last posted its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). Alto Ingredients had a negative net margin of 3.61% and a negative return on equity of 11.15%. The business had revenue of $251.81 million during the quarter, compared to analyst estimates of $274.94 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share.

Hedge Funds Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Alto Ingredients during the 1st quarter valued at $62,000. Virtu Financial LLC bought a new position in Alto Ingredients during the 1st quarter valued at $68,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Alto Ingredients by 137.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,788 shares of the company’s stock valued at $95,000 after purchasing an additional 34,061 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Alto Ingredients during the 1st quarter valued at $131,000. Finally, Empowered Funds LLC bought a new position in Alto Ingredients during the 1st quarter valued at $286,000. 42.44% of the stock is owned by institutional investors.

Alto Ingredients Company Profile

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.