Alto Ingredients (NASDAQ:ALTO) Posts Earnings Results, Beats Expectations By $0.25 EPS

Alto Ingredients (NASDAQ:ALTO) posted its quarterly earnings results on Wednesday. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.25, FiscalAI reports. Alto Ingredients had a negative return on equity of 18.78% and a negative net margin of 7.16%.The company had revenue of $240.99 million for the quarter, compared to the consensus estimate of $235.68 million.

Alto Ingredients Trading Up 0.7%

Alto Ingredients stock opened at $1.43 on Friday. Alto Ingredients has a one year low of $0.76 and a one year high of $1.93. The business’s fifty day moving average is $1.12 and its 200 day moving average is $1.07. The stock has a market capitalization of $110.68 million, a PE ratio of -1.54 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.52 and a quick ratio of 2.25.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Alto Ingredients in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Institutional Trading of Alto Ingredients

A number of large investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in Alto Ingredients by 8.5% during the first quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock valued at $314,000 after purchasing an additional 21,626 shares during the period. Bridgeway Capital Management LLC raised its stake in Alto Ingredients by 5.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 487,059 shares of the company’s stock valued at $560,000 after buying an additional 27,007 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alto Ingredients by 2,539,250.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock valued at $58,000 after buying an additional 50,785 shares during the period. 42.44% of the stock is currently owned by institutional investors.

About Alto Ingredients

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.