Aemetis (NASDAQ:AMTX) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Aemetis, Inc (NASDAQ:AMTX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.13 and traded as low as $1.54. Aemetis shares last traded at $1.70, with a volume of 1,571,385 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMTX. Ascendiant Capital Markets reduced their price target on Aemetis from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aemetis in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aemetis has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Aemetis Stock Performance

The firm has a market capitalization of $112.54 million, a price-to-earnings ratio of -1.06 and a beta of 2.66. The business has a fifty day moving average price of $1.53 and a 200 day moving average price of $2.13.

Aemetis (NASDAQ:AMTX) last posted its quarterly earnings results on Friday, November 7th. The specialty chemicals company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.12). The business had revenue of $59.19 million during the quarter, compared to analysts’ expectations of $87.79 million. On average, analysts expect that Aemetis, Inc will post -2.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Hamilton Capital Partners LLC acquired a new position in Aemetis during the fourth quarter valued at approximately $279,000. CIBC Bancorp USA Inc. purchased a new position in shares of Aemetis in the 3rd quarter valued at $563,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Aemetis during the 3rd quarter valued at $86,000. Centiva Capital LP acquired a new position in shares of Aemetis during the 3rd quarter valued at $39,000. Finally, Bank of America Corp DE boosted its position in Aemetis by 62.6% during the 3rd quarter. Bank of America Corp DE now owns 38,526 shares of the specialty chemicals company’s stock worth $87,000 after purchasing an additional 14,836 shares during the period. Hedge funds and other institutional investors own 27.02% of the company’s stock.

Aemetis Company Profile

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.