Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Decreases By 13.6%

Alto Ingredients, Inc. (NASDAQ:ALTO) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 766,300 shares, a decline of 13.6% from the October 15th total of 886,700 shares. Based on an average trading volume of 659,300 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Alto Ingredients in a research note on Wednesday, August 7th.

Hedge Funds Weigh In On Alto Ingredients

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Alto Ingredients by 53.4% in the second quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock valued at $2,423,000 after purchasing an additional 583,967 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings 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 buying an additional 93,054 shares during the last quarter. Acadian Asset Management LLC raised its position in Alto Ingredients by 8.6% during the first quarter. Acadian Asset Management LLC now owns 585,846 shares of the company’s stock valued at $1,276,000 after acquiring an additional 46,454 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Alto Ingredients by 5.4% in the third quarter. The Manufacturers Life Insurance Company now owns 370,852 shares of the company’s stock valued at $597,000 after acquiring an additional 19,104 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Alto Ingredients by 48.3% in the second 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. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Stock Performance

Shares of ALTO stock opened at $1.37 on Friday. The stock’s fifty day simple moving average is $1.62 and its 200-day simple moving average is $1.55. The company has a market capitalization of $104.79 million, a price-to-earnings ratio of -2.63 and a beta of 1.97. The company has a current ratio of 3.22, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32. Alto Ingredients has a 1-year low of $1.18 and a 1-year high of $3.00.

Alto Ingredients (NASDAQ:ALTO) last issued 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). Alto Ingredients had a negative net margin of 3.61% and a negative return on equity of 11.22%. The business had revenue of $251.81 million during the quarter, compared to analyst estimates of $274.94 million. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, sell-side analysts predict that Alto Ingredients will post -0.37 earnings per share for the current fiscal year.

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.