Research Analysts Offer Predictions for Alto Ingredients, Inc.’s Q3 2024 Earnings (NASDAQ:ALTO)

Alto Ingredients, Inc. (NASDAQ:ALTO) – Stock analysts at HC Wainwright lifted their Q3 2024 earnings per share estimates for shares of Alto Ingredients in a research report issued on Tuesday, May 7th. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings per share of $0.01 for the quarter, up from their prior forecast of ($0.03). HC Wainwright currently has a “Buy” rating and a $5.50 price objective on the stock. The consensus estimate for Alto Ingredients’ current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for Alto Ingredients’ FY2024 earnings at ($0.17) EPS.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $240.63 million during the quarter, compared to the consensus estimate of $199.56 million. Alto Ingredients had a negative return on equity of 7.32% and a negative net margin of 2.29%. During the same period last year, the company earned ($0.17) EPS.

Alto Ingredients Stock Performance

NASDAQ ALTO opened at $1.72 on Thursday. The company has a market cap of $130.20 million, a P/E ratio of -4.41 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.59 and a quick ratio of 1.78. The stock has a 50-day moving average of $2.03 and a two-hundred day moving average of $2.36. Alto Ingredients has a 1-year low of $1.53 and a 1-year high of $4.98.

Hedge Funds Weigh In On Alto Ingredients

Several institutional investors have recently bought and sold shares of ALTO. Charles Schwab Investment Management Inc. lifted its position in shares of Alto Ingredients by 19.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,494,032 shares of the company’s stock worth $6,634,000 after purchasing an additional 413,116 shares during the last quarter. Jump Financial LLC acquired a new stake in Alto Ingredients during the fourth quarter worth approximately $560,000. Acadian Asset Management LLC purchased a new stake in shares of Alto Ingredients during the 3rd quarter worth approximately $618,000. Empowered Funds LLC acquired a new position in shares of Alto Ingredients in the 1st quarter valued at $286,000. Finally, Barclays PLC raised its stake in Alto Ingredients by 210.5% during the 3rd quarter. Barclays PLC now owns 106,345 shares of the company’s stock worth $471,000 after acquiring an additional 72,092 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

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.