Pacific Ethanol (PEIX) Lifted to Sell at ValuEngine
ValuEngine upgraded shares of Pacific Ethanol (NASDAQ:PEIX) from a strong sell rating to a sell rating in a research note released on Tuesday.
A number of other analysts have also weighed in on PEIX. B. Riley started coverage on Pacific Ethanol in a research note on Tuesday, November 28th. They issued a buy rating and a $7.00 target price on the stock. HC Wainwright set a $14.00 target price on Pacific Ethanol and gave the stock a buy rating in a research note on Friday, March 2nd. Finally, Zacks Investment Research upgraded Pacific Ethanol from a hold rating to a buy rating and set a $5.00 target price on the stock in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $10.20.
Shares of Pacific Ethanol (NASDAQ:PEIX) opened at $3.68 on Tuesday. Pacific Ethanol has a twelve month low of $3.10 and a twelve month high of $7.57. The firm has a market capitalization of $161.59, a price-to-earnings ratio of -4.32 and a beta of 1.78. The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.56.
In other Pacific Ethanol news, CEO Neil M. Koehler bought 30,000 shares of Pacific Ethanol stock in a transaction on Thursday, March 8th. The shares were acquired at an average price of $3.20 per share, for a total transaction of $96,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry D. Layne bought 10,000 shares of Pacific Ethanol stock in a transaction on Tuesday, March 6th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $37,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 49,500 shares of company stock worth $163,550. Insiders own 3.87% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its stake in Pacific Ethanol by 21.9% in the second quarter. Voya Investment Management LLC now owns 19,222 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 3,448 shares during the period. Virtu Financial LLC bought a new position in shares of Pacific Ethanol during the 4th quarter worth $126,000. Alliancebernstein L.P. bought a new position in shares of Pacific Ethanol during the 2nd quarter worth $188,000. GSA Capital Partners LLP bought a new position in shares of Pacific Ethanol during the 3rd quarter worth $185,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Pacific Ethanol by 53.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,264 shares of the oil and gas company’s stock worth $214,000 after buying an additional 11,925 shares in the last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.
About Pacific Ethanol
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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