Gilbert Nathan Acquires 10,000 Shares of Alto Ingredients (NASDAQ:ALTO) Stock

Alto Ingredients, Inc. (NASDAQ:ALTO) Director Gilbert Nathan bought 10,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were bought at an average cost of $3.93 per share, for a total transaction of $39,300.00. Following the transaction, the director owned 866,393 shares in the company, valued at $3,404,924.49. The trade was a 1.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Alto Ingredients Trading Up 3.3%

NASDAQ ALTO opened at $4.09 on Wednesday. Alto Ingredients, Inc. has a 12-month low of $0.92 and a 12-month high of $6.11. The company has a fifty day simple moving average of $4.55 and a two-hundred day simple moving average of $4.74. The company has a current ratio of 3.19, a quick ratio of 2.17 and a debt-to-equity ratio of 0.23. The stock has a market cap of $317.26 million, a P/E ratio of 6.10 and a beta of 0.16.

Alto Ingredients (NASDAQ:ALTO) last released its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm had revenue of $245.70 million for the quarter, compared to the consensus estimate of $231.24 million. Alto Ingredients had a return on equity of 18.54% and a net margin of 5.51%. On average, analysts forecast that Alto Ingredients, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

ALTO has been the topic of a number of recent research reports. Scotiabank set a $10.00 target price on Alto Ingredients in a research report on Thursday, August 6th. HC Wainwright restated a “buy” rating on shares of Alto Ingredients in a research note on Thursday, August 6th. Zacks Research downgraded shares of Alto Ingredients from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alto Ingredients in a research note on Friday, July 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Investors Weigh In On Alto Ingredients

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Alto Ingredients during the 2nd quarter valued at approximately $31,322,000. Arrowstreet Capital Limited Partnership grew its position in Alto Ingredients by 67.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock valued at $8,665,000 after buying an additional 723,996 shares during the period. Renaissance Technologies LLC grew its position in Alto Ingredients by 9.8% during the first quarter. Renaissance Technologies LLC now owns 1,673,657 shares of the company’s stock valued at $8,100,000 after buying an additional 149,657 shares during the period. Hillsdale Investment Management Inc. increased its holdings in Alto Ingredients by 590.1% in the first quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock valued at $4,843,000 after buying an additional 855,703 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alto Ingredients in the second quarter worth about $4,878,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

About Alto Ingredients

Alto Ingredients, Inc is a renewable fuels and specialty alcohols company that produces and markets low-carbon ethanol and related products. Its offerings are used as transportation fuel, fuel additives, industrial and beverage alcohol, and in other commercial applications.

The company also produces co-products from its ethanol manufacturing operations, including distillers grains used as animal feed and corn oil used in feed, fuel and industrial markets. Alto Ingredients has pursued opportunities to develop lower-carbon products and improve the value of its agricultural and renewable fuel operations.

Previously known as Pacific Ethanol, the company adopted the Alto Ingredients name in 2020 to reflect its broader focus beyond conventional ethanol production.