Alto Ingredients’ (ALTO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Alto Ingredients (NASDAQ:ALTO) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $5.50 price target on the stock.

Alto Ingredients Price Performance

Shares of ALTO opened at $1.76 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.78 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $2.05 and its 200 day simple moving average is $2.38. Alto Ingredients has a 1-year low of $1.36 and a 1-year high of $4.98. The company has a market cap of $133.23 million, a price-to-earnings ratio of -4.51 and a beta of 1.92.

Alto Ingredients (NASDAQ:ALTO) last posted its earnings results on Monday, March 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.14). Alto Ingredients had a negative return on equity of 7.32% and a negative net margin of 2.29%. The company had revenue of $273.63 million for the quarter, compared to analyst estimates of $301.92 million. On average, research analysts forecast that Alto Ingredients will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alto Ingredients

A number of hedge funds and other institutional investors have recently modified their holdings of ALTO. Bank of New York Mellon Corp increased its position in Alto Ingredients by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 100,142 shares of the company’s stock worth $443,000 after acquiring an additional 3,072 shares during the period. Barclays PLC increased its holdings in shares of Alto Ingredients by 210.5% during the third quarter. Barclays PLC now owns 106,345 shares of the company’s stock worth $471,000 after purchasing an additional 72,092 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Alto Ingredients by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,080,916 shares of the company’s stock valued at $9,198,000 after buying an additional 210,420 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Alto Ingredients during the third quarter worth approximately $618,000. Finally, Brandywine Global Investment Management LLC bought a new position in Alto Ingredients during the 3rd quarter worth $154,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

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.