Shares of Pacific Ethanol Inc (NASDAQ:PEIX) rose 6.5% during trading on Friday . The stock traded as high as $0.60 and last traded at $0.59, approximately 343,094 shares changed hands during trading. A decline of 17% from the average daily volume of 415,152 shares. The stock had previously closed at $0.55.

PEIX has been the subject of several recent analyst reports. HC Wainwright reduced their price objective on shares of Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. ValuEngine downgraded shares of Pacific Ethanol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research raised shares of Pacific Ethanol from a “sell” rating to a “hold” rating in a research report on Thursday, July 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Pacific Ethanol presently has a consensus rating of “Hold” and a consensus target price of $4.00.

The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $0.64 and its 200 day moving average price is $0.82.

Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. The company had revenue of $346.30 million during the quarter, compared to the consensus estimate of $377.12 million. Pacific Ethanol had a negative net margin of 4.27% and a negative return on equity of 18.75%. Research analysts expect that Pacific Ethanol Inc will post -0.84 earnings per share for the current year.

In related news, CEO Neil M. Koehler acquired 100,000 shares of Pacific Ethanol stock in a transaction dated Thursday, August 22nd. The stock was bought at an average price of $0.57 per share, with a total value of $57,000.00. Following the transaction, the chief executive officer now directly owns 932,985 shares in the company, valued at approximately $531,801.45. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.48% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC acquired a new stake in Pacific Ethanol in the 2nd quarter valued at $34,000. Bank of New York Mellon Corp grew its position 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 valued at $140,000 after purchasing an additional 97,036 shares during the period. Vanguard Group Inc. grew its position 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 valued at $1,461,000 after purchasing an additional 677,991 shares during the period. Finally, Renaissance Technologies LLC grew its position 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 valued at $1,577,000 after purchasing an additional 615,846 shares during the period. 41.73% of the stock is owned by institutional investors and hedge funds.

Pacific Ethanol Company Profile (NASDAQ:PEIX)

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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