Aemetis (NASDAQ:AMTX) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Aemetis, Inc (NASDAQ:AMTX) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.06 and traded as low as $1.6650. Aemetis shares last traded at $1.6850, with a volume of 990,264 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen cut Aemetis from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Ascendiant Capital Markets boosted their price target on Aemetis from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Aemetis in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Aemetis currently has a consensus rating of “Hold” and an average target price of $11.88.

Aemetis Stock Performance

The company has a market capitalization of $118.57 million, a P/E ratio of -1.42 and a beta of 1.44. The business’s fifty day simple moving average is $1.97 and its 200-day simple moving average is $2.06.

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

Institutional Investors Weigh In On Aemetis

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Aemetis by 10,632.5% during the 1st quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 8,825 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Aemetis during the 1st quarter worth approximately $33,000. Creative Planning purchased a new stake in shares of Aemetis during the 2nd quarter worth approximately $30,000. Prairiewood Capital LLC bought a new position in shares of Aemetis during the 1st quarter valued at approximately $47,000. Finally, Bank of America Corp DE boosted its position in shares of Aemetis by 62.6% during the 3rd quarter. Bank of America Corp DE now owns 38,526 shares of the specialty chemicals company’s stock valued at $87,000 after acquiring an additional 14,836 shares during the last quarter. 27.02% of the stock is currently owned by hedge funds and other institutional investors.

Aemetis Company Profile

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.