Short Interest in Pacific Ethanol, Inc. (PEIX) Grows By 57.3%
Pacific Ethanol, Inc. (NASDAQ:PEIX) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,835,198 shares, a growth of 57.3% from the June 15th total of 1,166,752 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average trading volume of 686,495 shares, the short-interest ratio is currently 2.7 days.
Several large investors have recently modified their holdings of the company. Federated Investors Inc. PA acquired a new stake in shares of Pacific Ethanol during the fourth quarter worth $107,000. OppenheimerFunds Inc. raised its stake in shares of Pacific Ethanol by 4.7% in the first quarter. OppenheimerFunds Inc. now owns 16,212 shares of the oil and gas company’s stock worth $111,000 after buying an additional 728 shares in the last quarter. American International Group Inc. raised its stake in shares of Pacific Ethanol by 7.1% in the first quarter. American International Group Inc. now owns 17,659 shares of the oil and gas company’s stock worth $121,000 after buying an additional 1,163 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Pacific Ethanol during the fourth quarter worth $145,000. Finally, KCG Holdings Inc. acquired a new stake in shares of Pacific Ethanol during the first quarter worth $149,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.
PEIX has been the topic of several analyst reports. Roth Capital set a $12.00 target price on Pacific Ethanol and gave the company a “buy” rating in a report on Monday, March 20th. Zacks Investment Research lowered Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 11th. ValuEngine lowered Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Pacific Ethanol in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Pacific Ethanol currently has an average rating of “Hold” and a consensus price target of $12.33.
Pacific Ethanol (NASDAQ PEIX) opened at 6.30 on Friday. The firm has a market capitalization of $275.36 million, a price-to-earnings ratio of 350.00 and a beta of 2.19. The firm has a 50-day moving average price of $6.21 and a 200 day moving average price of $7.33. Pacific Ethanol has a 52 week low of $5.37 and a 52 week high of $10.95.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Tuesday, May 9th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.27. The business had revenue of $386.30 million during the quarter, compared to the consensus estimate of $385.81 million. Pacific Ethanol had a return on equity of 0.52% and a net margin of 0.12%. Pacific Ethanol’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.32) earnings per share. On average, equities research analysts forecast that Pacific Ethanol will post ($0.06) earnings per share for the current fiscal year.
About Pacific Ethanol
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
Receive News & Ratings for Pacific Ethanol Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Ethanol Inc. and related companies with MarketBeat.com's FREE daily email newsletter.