Short Interest in Pacific Ethanol Inc (NASDAQ:PEIX) Grows By 8.5%

Pacific Ethanol Inc (NASDAQ:PEIX) saw a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 618,600 shares, a growth of 8.5% from the November 14th total of 569,900 shares. Based on an average daily volume of 336,200 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.4% of the company’s shares are sold short.

PEIX stock traded down $0.01 during mid-day trading on Friday, reaching $0.48. The company had a trading volume of 82,035 shares, compared to its average volume of 167,211. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.44. The company has a market capitalization of $24.17 million, a PE ratio of -0.34 and a beta of 1.70. The firm has a 50 day moving average of $0.51 and a 200 day moving average of $0.65. Pacific Ethanol has a 12 month low of $0.38 and a 12 month high of $1.67.

Pacific Ethanol (NASDAQ:PEIX) last issued its earnings results on Thursday, November 7th. The oil and gas company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.42). The company had revenue of $365.16 million during the quarter, compared to the consensus estimate of $359.26 million. Pacific Ethanol had a negative return on equity of 26.57% and a negative net margin of 5.70%. During the same quarter in the prior year, the company earned ($0.18) earnings per share.

Hedge funds have recently modified their holdings of the business. A.R.T. Advisors LLC bought a new position in Pacific Ethanol in the 2nd quarter worth about $34,000. Bank of New York Mellon Corp grew its stake in Pacific Ethanol by 112.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 183,507 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 97,036 shares in the last quarter. Renaissance Technologies LLC grew its stake in Pacific Ethanol by 42.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,062,077 shares of the oil and gas company’s stock worth $1,577,000 after acquiring an additional 615,846 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Pacific Ethanol by 55.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,910,502 shares of the oil and gas company’s stock worth $1,461,000 after acquiring an additional 677,991 shares in the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

Pacific Ethanol Company Profile

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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