Aemetis (NASDAQ:AMTX) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Aemetis, Inc (NASDAQ:AMTX) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.03 and traded as low as $1.61. Aemetis shares last traded at $1.6950, with a volume of 8,316,770 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Ascendiant Capital Markets boosted their target price on shares of Aemetis from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Aemetis in a research note on Monday, April 20th. Wall Street Zen cut shares of Aemetis from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Loop Capital set a $1.75 price target on shares of Aemetis in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.92.

Aemetis Price Performance

The stock has a market capitalization of $119.28 million, a P/E ratio of -1.42 and a beta of 1.36. The stock has a fifty day moving average price of $2.38 and a 200 day moving average price of $2.03.

Aemetis (NASDAQ:AMTX) last released its quarterly earnings data on Thursday, May 7th. The specialty chemicals company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The company had revenue of $54.62 million during the quarter, compared to the consensus estimate of $66.70 million. Research analysts anticipate that Aemetis, Inc will post -1.11 earnings per share for the current year.

Institutional Investors Weigh In On Aemetis

Several hedge funds and other institutional investors have recently modified their holdings of AMTX. Royal Bank of Canada increased its stake in Aemetis by 10,632.5% in the 1st quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 8,825 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Aemetis during the 1st quarter valued at about $33,000. Creative Planning bought a new stake in shares of Aemetis during the 2nd quarter valued at about $30,000. Prairiewood Capital LLC purchased a new position in shares of Aemetis during the first quarter worth about $47,000. Finally, Bank of America Corp DE grew its holdings in shares of Aemetis by 62.6% during the third quarter. Bank of America Corp DE now owns 38,526 shares of the specialty chemicals company’s stock worth $87,000 after purchasing an additional 14,836 shares in the last quarter. 27.02% of the stock is currently owned by institutional investors.

About Aemetis

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.