Alto Ingredients (NASDAQ:ALTO) Stock Bumped Down to Buy by Wall Street Zen

Wall Street Zen lowered shares of Alto Ingredients (NASDAQ:ALTO) from a strong-buy rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also weighed in on ALTO. Benchmark upgraded Alto Ingredients to a “strong-buy” rating in a research note on Wednesday, September 30th. HC Wainwright restated a “buy” rating on shares of Alto Ingredients in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alto Ingredients in a report on Thursday, October 29th. Finally, Scotiabank set a $10.00 target price on Alto Ingredients in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Alto Ingredients Stock Performance

Shares of NASDAQ:ALTO traded down $0.05 during midday trading on Friday, reaching $3.66. The company’s stock had a trading volume of 993,559 shares, compared to its average volume of 1,064,286. The firm has a market capitalization of $283.91 million, a PE ratio of 5.72 and a beta of 0.13. Alto Ingredients has a twelve month low of $1.87 and a twelve month high of $6.11. The stock has a fifty day moving average of $3.75 and a 200 day moving average of $4.30. The company has a quick ratio of 2.17, a current ratio of 3.39 and a debt-to-equity ratio of 0.20.

Alto Ingredients (NASDAQ:ALTO) last issued its earnings results on Wednesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. Alto Ingredients had a net margin of 5.29% and a return on equity of 17.16%. The firm had revenue of $257.89 million during the quarter, compared to analysts’ expectations of $250.97 million. On average, equities analysts expect that Alto Ingredients will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gilbert Nathan purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average price of $3.93 per share, for a total transaction of $39,300.00. Following the completion of the transaction, the director owned 866,393 shares in the company, valued at $3,404,924.49. This represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Alto Ingredients in the second quarter valued at approximately $31,322,000. Bank of America Corp DE increased its position in shares of Alto Ingredients by 1,441.7% in the first quarter. Bank of America Corp DE now owns 550,294 shares of the company’s stock valued at $2,663,000 after buying an additional 514,600 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Alto Ingredients by 74.7% in the first quarter. Dimensional Fund Advisors LP now owns 659,268 shares of the company’s stock valued at $3,190,000 after buying an additional 281,833 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alto Ingredients during the 2nd quarter worth approximately $4,878,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Alto Ingredients by 67.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock worth $8,665,000 after buying an additional 723,996 shares during the period. Institutional investors and hedge funds own 42.44% of the company’s stock.

Alto Ingredients Company Profile

Alto Ingredients, Inc. produces and markets specialty alcohols, renewable fuel and related agricultural products. Its alcohol products serve a range of food and beverage, health and personal care, pharmaceutical, and industrial applications. The company also makes fuel-grade ethanol and ethanol-production co-products, including animal feed ingredients and corn oil. These products support customers in the renewable fuels and agricultural markets. Formerly known as Pacific Ethanol, Inc., the company adopted the Alto Ingredients name in 2021 as it emphasized its broader portfolio of alcohols and essential ingredients.