Alto Ingredients (NASDAQ:ALTO) Announces Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Alto Ingredients (NASDAQ:ALTO) posted its quarterly earnings results on Wednesday. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.02 by $0.26, FiscalAI reports. The business had revenue of $231.97 million during the quarter, compared to analysts’ expectations of $234.83 million. Alto Ingredients had a negative net margin of 5.44% and a negative return on equity of 12.02%.

Alto Ingredients Price Performance

NASDAQ:ALTO remained flat at $2.60 during trading hours on Wednesday. The company’s stock had a trading volume of 2,425,087 shares, compared to its average volume of 869,545. The stock has a market capitalization of $201.08 million, a PE ratio of -3.77 and a beta of 0.60. Alto Ingredients has a 52-week low of $0.76 and a 52-week high of $3.18. The company’s fifty day simple moving average is $2.64 and its 200 day simple moving average is $1.94. The company has a current ratio of 3.56, a quick ratio of 2.30 and a debt-to-equity ratio of 0.45.

Institutional Investors Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new position in Alto Ingredients during the fourth quarter valued at approximately $204,000. Empowered Funds LLC increased its stake in shares of Alto Ingredients by 10.6% during the 4th quarter. Empowered Funds LLC now owns 373,927 shares of the company’s stock worth $1,077,000 after purchasing an additional 35,761 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Alto Ingredients by 34.2% in the 4th quarter. XTX Topco Ltd now owns 52,753 shares of the company’s stock valued at $152,000 after purchasing an additional 13,431 shares during the period. Millennium Management LLC lifted its stake in Alto Ingredients by 2,967.5% in the 4th quarter. Millennium Management LLC now owns 369,513 shares of the company’s stock valued at $1,064,000 after purchasing an additional 357,467 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its stake in Alto Ingredients by 756.1% in the 4th quarter. Engineers Gate Manager LP now owns 168,257 shares of the company’s stock valued at $485,000 after purchasing an additional 148,604 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALTO has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alto Ingredients in a report on Monday, December 29th. Zacks Research cut shares of Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen upgraded shares of Alto Ingredients from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.50.

About Alto Ingredients

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.