Alto Ingredients (NASDAQ:ALTO) Trading Down 5.2% – What’s Next?

Alto Ingredients, Inc. (NASDAQ:ALTO) dropped 5.2% during trading on Tuesday . The stock traded as low as $2.52 and last traded at $2.54. Approximately 556,388 shares changed hands during trading, a decline of 33% from the average daily volume of 824,512 shares. The stock had previously closed at $2.68.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALTO shares. Zacks Research downgraded Alto Ingredients from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Wall Street Zen raised shares of Alto Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alto Ingredients in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alto Ingredients has a consensus rating of “Hold” and a consensus target price of $5.50.

Alto Ingredients Stock Performance

The firm’s fifty day moving average is $2.70 and its 200 day moving average is $1.85. The firm has a market capitalization of $196.44 million, a price-to-earnings ratio of -3.68 and a beta of 0.58. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.56 and a quick ratio of 2.30.

Hedge Funds Weigh In On Alto Ingredients

Hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. purchased a new stake in shares of Alto Ingredients during the fourth quarter worth $33,000. Leonteq Securities AG acquired a new position in Alto Ingredients in the 4th quarter worth about $44,000. CreativeOne Wealth LLC purchased a new stake in shares of Alto Ingredients during the 4th quarter worth about $46,000. Sagespring Wealth Partners LLC acquired a new stake in shares of Alto Ingredients during the 4th quarter valued at about $72,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Alto Ingredients in the 4th quarter valued at approximately $91,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Company Profile

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.