Shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) have been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.00.

A number of equities research analysts recently issued reports on PEIX shares. ValuEngine cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 5th. Cowen and Company set a $13.00 target price on shares of Pacific Ethanol and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, HC Wainwright set a $14.00 target price on shares of Pacific Ethanol and gave the stock a “buy” rating in a research report on Friday, August 4th.

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Several hedge funds and other institutional investors have recently modified their holdings of PEIX. DnB Asset Management AS boosted its stake in shares of Pacific Ethanol by 40.7% in the 2nd quarter. DnB Asset Management AS now owns 2,367,337 shares of the oil and gas company’s stock valued at $14,796,000 after purchasing an additional 685,298 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Pacific Ethanol by 56.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,645,060 shares of the oil and gas company’s stock valued at $11,269,000 after purchasing an additional 590,856 shares during the last quarter. Candlewood Investment Group LP boosted its stake in shares of Pacific Ethanol by 19.3% in the 2nd quarter. Candlewood Investment Group LP now owns 3,254,318 shares of the oil and gas company’s stock valued at $20,339,000 after purchasing an additional 526,901 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Pacific Ethanol by 29.4% in the 1st quarter. Vanguard Group Inc. now owns 1,540,132 shares of the oil and gas company’s stock valued at $10,551,000 after purchasing an additional 349,854 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Pacific Ethanol by 98.8% in the 2nd quarter. Prudential Financial Inc. now owns 675,471 shares of the oil and gas company’s stock valued at $4,221,000 after purchasing an additional 335,748 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.18). Pacific Ethanol had a negative net margin of 0.72% and a negative return on equity of 3.02%. The business had revenue of $405.20 million during the quarter, compared to analyst estimates of $410.34 million. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last 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.

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