Pacific Ethanol, Inc. (PEIX) Given a $14.00 Price Target by HC Wainwright Analysts
Pacific Ethanol, Inc. (NASDAQ:PEIX) received a $14.00 target price from research analysts at HC Wainwright in a research note issued on Friday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. HC Wainwright’s price objective indicates a potential upside of 143.48% from the company’s previous close.
PEIX has been the subject of a number of other reports. ValuEngine cut Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 11th. Finally, Cowen and Company set a $13.00 price objective on Pacific Ethanol and gave the stock a “buy” rating in a research note on Saturday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.50.
Shares of Pacific Ethanol (NASDAQ:PEIX) traded up 1.77% during midday trading on Friday, hitting $5.75. The stock had a trading volume of 829,499 shares. Pacific Ethanol has a one year low of $5.55 and a one year high of $10.95. The firm’s 50-day moving average price is $6.15 and its 200-day moving average price is $6.79. The firm’s market capitalization is $243.19 million.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.18. Pacific Ethanol had a negative return on equity of 3.02% and a negative net margin of 0.72%. The company had revenue of $405.20 million for the quarter, compared to analyst estimates of $410.34 million. During the same period last year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts predict that Pacific Ethanol will post ($0.05) EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Pacific Ethanol by 7.2% in the fourth quarter. State Street Corp now owns 694,518 shares of the oil and gas company’s stock valued at $6,601,000 after buying an additional 46,514 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Pacific Ethanol by 113.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,054,204 shares of the oil and gas company’s stock valued at $10,015,000 after buying an additional 559,890 shares in the last quarter. Two Sigma Investments LP acquired a new position in Pacific Ethanol during the fourth quarter valued at $145,000. Metropolitan Life Insurance Co. NY raised its position in Pacific Ethanol by 11.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,291 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 2,633 shares in the last quarter. Finally, DnB Asset Management AS raised its position in Pacific Ethanol by 28.8% in the first quarter. DnB Asset Management AS now owns 1,682,039 shares of the oil and gas company’s stock valued at $11,522,000 after buying an additional 375,901 shares in the last quarter. Hedge funds and other institutional investors own 64.59% of the company’s stock.
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.
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