Pacific Ethanol (NASDAQ:PEIX) Given New $3.00 Price Target at HC Wainwright

Pacific Ethanol (NASDAQ:PEIX) had its price target cut by HC Wainwright from $4.00 to $3.00 in a report released on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Pacific Ethanol from a sell rating to a hold rating in a research note on Thursday, July 4th. ValuEngine cut shares of Pacific Ethanol from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Pacific Ethanol has an average rating of Hold and an average target price of $4.00.

NASDAQ:PEIX traded up $0.08 during mid-day trading on Friday, hitting $0.67. 787,441 shares of the stock traded hands, compared to its average volume of 317,937. The firm’s 50-day moving average is $0.72. Pacific Ethanol has a 12-month low of $0.51 and a 12-month high of $3.24. The company has a current ratio of 0.75, a quick ratio of 0.48 and a debt-to-equity ratio of 0.42.

Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. The company had revenue of $346.30 million during the quarter, compared to analysts’ expectations of $377.12 million. Pacific Ethanol had a negative net margin of 4.27% and a negative return on equity of 18.38%. On average, equities analysts forecast that Pacific Ethanol will post -0.86 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its stake in Pacific Ethanol by 32.2% in the 4th quarter. California Public Employees Retirement System now owns 189,775 shares of the oil and gas company’s stock worth $163,000 after buying an additional 46,240 shares in the last quarter. United Services Automobile Association grew its stake in Pacific Ethanol by 7.4% in the 4th quarter. United Services Automobile Association now owns 197,761 shares of the oil and gas company’s stock worth $170,000 after buying an additional 13,700 shares in the last quarter. Norges Bank purchased a new position in Pacific Ethanol in the 4th quarter worth approximately $191,000. Geode Capital Management LLC grew its stake in Pacific Ethanol by 41.9% in the 4th quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock worth $283,000 after buying an additional 97,240 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Pacific Ethanol by 22.6% in the 1st quarter. Acadian Asset Management LLC now owns 430,145 shares of the oil and gas company’s stock worth $422,000 after buying an additional 79,403 shares in the last quarter. 38.82% of the stock is owned by institutional investors and hedge funds.

About Pacific Ethanol

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.

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