Pacific Ethanol Inc (NASDAQ:PEIX) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,678,054 shares, an increase of 34.4% from the February 15th total of 1,993,269 shares. Based on an average daily volume of 283,009 shares, the short-interest ratio is presently 9.5 days. Approximately 7.3% of the company’s shares are sold short.
Pacific Ethanol (NASDAQ:PEIX) opened at $4.15 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.30 and a quick ratio of 1.53. The stock has a market cap of $169.29, a PE ratio of -4.88 and a beta of 1.78. Pacific Ethanol has a 12 month low of $3.10 and a 12 month high of $7.57.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.21). The business had revenue of $395.27 million during the quarter, compared to the consensus estimate of $418.84 million. Pacific Ethanol had a negative return on equity of 8.75% and a negative net margin of 2.14%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. analysts anticipate that Pacific Ethanol will post -0.49 earnings per share for the current year.
Several institutional investors have recently modified their holdings of PEIX. Voya Investment Management LLC increased its stake in shares of Pacific Ethanol by 21.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,222 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 3,448 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Pacific Ethanol in the 4th quarter worth about $126,000. GSA Capital Partners LLP bought a new position in shares of Pacific Ethanol in the 3rd quarter worth about $185,000. Alliancebernstein L.P. bought a new position in shares of Pacific Ethanol in the 2nd quarter worth about $188,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Pacific Ethanol by 53.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,264 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 11,925 shares in the last quarter. Institutional investors own 78.33% of the company’s stock.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Pacific Ethanol from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Wednesday, January 10th. B. Riley assumed coverage on shares of Pacific Ethanol in a research report on Tuesday, November 28th. They issued a “buy” rating and a $7.00 target price for the company. 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, March 2nd. Finally, ValuEngine cut shares of Pacific Ethanol from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $10.20.
ILLEGAL ACTIVITY WARNING: This report was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/03/13/pacific-ethanol-inc-peix-sees-large-increase-in-short-interest.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Ethanol and related companies with MarketBeat.com's FREE daily email newsletter.