Alto Ingredients (NASDAQ:ALTO) Upgraded by Wall Street Zen to Hold Rating

Alto Ingredients (NASDAQ:ALTO) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Alto Ingredients in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.50.

Alto Ingredients Stock Down 2.8%

ALTO stock opened at $1.38 on Friday. Alto Ingredients has a twelve month low of $0.76 and a twelve month high of $1.93. The company has a current ratio of 3.52, a quick ratio of 2.25 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $106.81 million, a P/E ratio of -1.50 and a beta of 0.62. The firm has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $1.07.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.25. Alto Ingredients had a negative net margin of 7.16% and a negative return on equity of 18.78%. The firm had revenue of $240.99 million for the quarter, compared to analysts’ expectations of $235.68 million. On average, equities research analysts predict that Alto Ingredients will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Alto Ingredients by 2,539,250.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock valued at $58,000 after buying an additional 50,785 shares during the last quarter. Corsair Capital Management L.P. lifted its holdings in Alto Ingredients by 67.7% in the second quarter. Corsair Capital Management L.P. now owns 50,500 shares of the company’s stock worth $58,000 after acquiring an additional 20,383 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Alto Ingredients in the first quarter valued at approximately $199,000. Empowered Funds LLC grew its holdings in shares of Alto Ingredients by 8.5% during the first quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock valued at $314,000 after purchasing an additional 21,626 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Alto Ingredients by 5.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 487,059 shares of the company’s stock worth $560,000 after purchasing an additional 27,007 shares during the period. 42.44% of the stock is currently owned by institutional investors.

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.