Aemetis (NASDAQ:AMTX) Stock Passes Below 200-Day Moving Average – What’s Next?

Aemetis, Inc (NASDAQ:AMTX) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.29 and traded as low as $1.55. Aemetis shares last traded at $1.59, with a volume of 581,822 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Aemetis in a report on Wednesday, October 8th. Ascendiant Capital Markets cut their price target on shares of Aemetis from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Aemetis Trading Down 2.5%

The company has a market capitalization of $105.26 million, a price-to-earnings ratio of -0.99 and a beta of 2.31. The firm’s 50 day simple moving average is $1.64 and its 200-day simple moving average is $2.29.

Aemetis (NASDAQ:AMTX) last issued its earnings results on Friday, November 7th. The specialty chemicals company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.12). The firm had revenue of $59.19 million for the quarter, compared to analyst estimates of $87.79 million. As a group, sell-side analysts forecast that Aemetis, Inc will post -2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Aemetis

Large investors have recently modified their holdings of the business. Clear Harbor Asset Management LLC raised its position in Aemetis by 31.0% during the second quarter. Clear Harbor Asset Management LLC now owns 21,950 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 5,200 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Aemetis by 48.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,611 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 6,420 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in shares of Aemetis during the 2nd quarter worth approximately $25,000. R Squared Ltd acquired a new position in shares of Aemetis during the 2nd quarter worth approximately $30,000. Finally, Creative Planning purchased a new stake in Aemetis in the 2nd quarter valued at approximately $30,000. 27.02% of the stock is owned by hedge funds and other institutional investors.

About Aemetis

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.