Alto Ingredients (NASDAQ:ALTO) Shares Down 5.3% – Here’s What Happened

Alto Ingredients, Inc. (NASDAQ:ALTO) fell 5.3% on Monday . The stock traded as low as $2.66 and last traded at $2.67. 1,012,921 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 985,261 shares. The stock had previously closed at $2.82.

Wall Street Analysts Forecast Growth

ALTO has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Alto Ingredients in a research note on Monday, December 29th. Zacks Research downgraded Alto Ingredients from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Wall Street Zen raised Alto Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alto Ingredients presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Alto Ingredients Trading Down 5.3%

The company has a debt-to-equity ratio of 0.45, a current ratio of 3.56 and a quick ratio of 2.30. The company has a market capitalization of $206.50 million, a P/E ratio of -3.87 and a beta of 0.53. The firm has a fifty day moving average price of $2.63 and a 200-day moving average price of $1.68.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.25. The business had revenue of $240.99 million for the quarter, compared to analysts’ expectations of $235.68 million. Alto Ingredients had a negative return on equity of 12.02% and a negative net margin of 5.44%. On average, equities research analysts anticipate that Alto Ingredients, Inc. will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Alto Ingredients

Several institutional investors have recently added to or reduced their stakes in ALTO. Virtu Financial LLC bought a new stake in Alto Ingredients in the third quarter worth about $52,000. JPMorgan Chase & Co. increased its stake in shares of Alto Ingredients by 2,539,250.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock worth $58,000 after purchasing an additional 50,785 shares during the last quarter. Corsair Capital Management L.P. raised its holdings in shares of Alto Ingredients by 67.7% in the 2nd quarter. Corsair Capital Management L.P. now owns 50,500 shares of the company’s stock worth $58,000 after purchasing an additional 20,383 shares during the period. Sagespring Wealth Partners LLC bought a new stake in shares of Alto Ingredients in the 4th quarter worth approximately $72,000. Finally, Empowered Funds LLC lifted its stake in Alto Ingredients by 8.5% in the first quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock valued at $314,000 after purchasing an additional 21,626 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

About Alto Ingredients

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.