Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Update

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a large growth in short interest in June. As of June 30th, there was short interest totaling 4,118,629 shares, a growth of 80.8% from the June 15th total of 2,277,827 shares. Approximately 5.6% of the company’s shares are short sold. Based on an average trading volume of 3,185,952 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. HC Wainwright lifted their price target on shares of Alto Ingredients from $5.50 to $10.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen upgraded Alto Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings raised Alto Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Alto Ingredients presently has an average rating of “Hold” and a consensus price target of $10.00.

Insider Buying and Selling at Alto Ingredients

In related news, Director Gilbert E. Nathan bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $4.61 per share, for a total transaction of $92,200.00. Following the transaction, the director directly owned 769,741 shares of the company’s stock, valued at approximately $3,548,506.01. The trade was a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alto Ingredients

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Alto Ingredients in the first quarter worth approximately $49,000. Vontobel Holding Ltd. purchased a new position in shares of Alto Ingredients during the fourth quarter valued at approximately $33,000. Sei Investments Co. purchased a new position in shares of Alto Ingredients during the first quarter valued at approximately $58,000. Leonteq Securities AG bought a new stake in Alto Ingredients during the fourth quarter worth $44,000. Finally, CreativeOne Wealth LLC bought a new stake in Alto Ingredients during the fourth quarter worth $46,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Alto Ingredients Stock Up 13.2%

NASDAQ ALTO traded up $0.68 during mid-day trading on Friday, hitting $5.84. The company’s stock had a trading volume of 3,702,075 shares, compared to its average volume of 2,447,098. The firm has a market capitalization of $452.54 million, a price-to-earnings ratio of 15.78 and a beta of 0.13. The company’s 50 day simple moving average is $5.27 and its 200 day simple moving average is $4.22. The company has a current ratio of 3.81, a quick ratio of 2.54 and a debt-to-equity ratio of 0.29. Alto Ingredients has a twelve month low of $0.92 and a twelve month high of $6.11.

Alto Ingredients (NASDAQ:ALTO) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.13. The firm had revenue of $224.68 million for the quarter, compared to the consensus estimate of $215.65 million. Alto Ingredients had a net margin of 3.20% and a return on equity of 9.77%. Analysts anticipate that Alto Ingredients will post 0.54 earnings per share for the current year.

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.