Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Large Drop in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 714,667 shares, a drop of 19.0% from the February 12th total of 881,890 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 427,601 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 427,601 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.0% of the shares of the company are short sold.

Alto Ingredients Trading Down 1.9%

Alto Ingredients stock opened at $4.66 on Friday. The company has a quick ratio of 2.30, a current ratio of 3.56 and a debt-to-equity ratio of 0.45. Alto Ingredients has a 52 week low of $0.76 and a 52 week high of $4.89. The company has a market capitalization of $360.40 million, a price-to-earnings ratio of 29.13 and a beta of 0.60. The stock has a 50-day moving average price of $2.86 and a 200 day moving average price of $2.12.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.17. Alto Ingredients had a net margin of 1.45% and a return on equity of 3.10%. The company had revenue of $231.97 million for the quarter, compared to the consensus estimate of $234.83 million. Sell-side analysts anticipate that Alto Ingredients will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Alto Ingredients

Several hedge funds have recently added to or reduced their stakes in ALTO. Peapod Lane Capital LLC raised its stake in shares of Alto Ingredients by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 1,244,198 shares of the company’s stock valued at $3,583,000 after buying an additional 9,074 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Alto Ingredients in the 4th quarter valued at about $3,324,000. Goldman Sachs Group Inc. boosted its stake in shares of Alto Ingredients by 169.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 715,180 shares of the company’s stock worth $2,060,000 after buying an additional 449,697 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Alto Ingredients by 7.3% in the third quarter. Bridgeway Capital Management LLC now owns 522,666 shares of the company’s stock worth $564,000 after buying an additional 35,607 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Alto Ingredients by 10.6% during the fourth quarter. Empowered Funds LLC now owns 373,927 shares of the company’s stock worth $1,077,000 after acquiring an additional 35,761 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ALTO. Zacks Research raised shares of Alto Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alto Ingredients in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Alto Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alto Ingredients has a consensus rating of “Moderate Buy”.

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.