Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Significant Growth in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 973,400 shares, a growth of 27.0% from the October 31st total of 766,300 shares. Based on an average trading volume of 749,300 shares, the short-interest ratio is presently 1.3 days. Currently, 1.3% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $5.50 price target on shares of Alto Ingredients in a report on Wednesday, August 7th.

Institutional Investors Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in shares of Alto Ingredients by 53.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock worth $2,423,000 after buying an additional 583,967 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in Alto Ingredients by 9.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,125,552 shares of the company’s stock worth $1,812,000 after acquiring an additional 93,054 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Alto Ingredients by 5.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 370,852 shares of the company’s stock worth $597,000 after acquiring an additional 19,104 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Alto Ingredients by 48.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 351,748 shares of the company’s stock worth $508,000 after acquiring an additional 114,571 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Alto Ingredients by 101.2% during the 3rd quarter. Jane Street Group LLC now owns 289,604 shares of the company’s stock valued at $466,000 after purchasing an additional 145,687 shares during the period. Institutional investors own 42.44% of the company’s stock.

Alto Ingredients Trading Up 3.4 %

Shares of NASDAQ ALTO opened at $1.50 on Monday. Alto Ingredients has a fifty-two week low of $1.18 and a fifty-two week high of $3.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.15 and a current ratio of 3.22. The company has a market cap of $114.97 million, a price-to-earnings ratio of -2.79 and a beta of 1.97. The business’s 50 day moving average price is $1.60 and its 200-day moving average price is $1.52.

Alto Ingredients (NASDAQ:ALTO) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The business had revenue of $251.81 million during the quarter, compared to analysts’ expectations of $274.94 million. Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, sell-side analysts expect that Alto Ingredients will post -0.37 earnings per share for the current year.

Alto Ingredients Company Profile

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.