Green Plains (GPRE) Upgraded to Sell at BidaskClub
BidaskClub upgraded shares of Green Plains (NASDAQ:GPRE) from a strong sell rating to a sell rating in a report released on Thursday.
Several other brokerages have also weighed in on GPRE. Zacks Investment Research lowered Green Plains from a hold rating to a strong sell rating in a report on Thursday, October 26th. Craig Hallum started coverage on Green Plains in a report on Thursday, September 14th. They set a buy rating and a $29.00 price objective on the stock. Piper Jaffray Companies raised Green Plains from a neutral rating to an overweight rating in a report on Friday, November 3rd. BMO Capital Markets reissued an outperform rating and set a $25.00 price objective (down previously from $30.00) on shares of Green Plains in a report on Monday, November 6th. Finally, Roth Capital set a $25.00 price objective on Green Plains and gave the stock a buy rating in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Green Plains currently has a consensus rating of Hold and a consensus target price of $25.33.
Shares of Green Plains (GPRE) traded down $0.20 during trading hours on Thursday, hitting $17.50. The stock had a trading volume of 525,500 shares, compared to its average volume of 659,889. Green Plains has a one year low of $15.60 and a one year high of $26.05. The firm has a market cap of $720.34, a price-to-earnings ratio of 26.92, a PEG ratio of 2.97 and a beta of 1.52. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.57 and a quick ratio of 0.70.
In related news, Director Wayne Hoovestol purchased 102,653 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average price of $16.37 per share, with a total value of $1,680,429.61. Following the purchase, the director now directly owns 218,277 shares in the company, valued at $3,573,194.49. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ejnar A. Knudsen III purchased 15,483 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was bought at an average cost of $16.54 per share, for a total transaction of $256,088.82. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 157,136 shares of company stock worth $2,590,578. 6.40% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in Green Plains by 1.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,612 shares of the specialty chemicals company’s stock valued at $156,000 after buying an additional 104 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Green Plains by 28.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,599 shares of the specialty chemicals company’s stock valued at $218,000 after buying an additional 2,360 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Green Plains in the 2nd quarter valued at $255,000. Marshall Wace North America L.P. acquired a new stake in Green Plains in the 2nd quarter valued at $305,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Green Plains in the 3rd quarter valued at $329,000.
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About Green Plains
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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