Aemetis (NASDAQ:AMTX) Stock Passes Below 200 Day Moving Average – What’s Next?

Aemetis, Inc (NASDAQ:AMTX)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.02 and traded as low as $1.90. Aemetis shares last traded at $1.96, with a volume of 902,854 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on AMTX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aemetis in a report on Monday, April 20th. Ascendiant Capital Markets lifted their target price on shares of Aemetis from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Wall Street Zen lowered shares of Aemetis from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Loop Capital set a $1.75 price target on shares of Aemetis in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Aemetis presently has an average rating of “Hold” and a consensus price target of $8.92.

Aemetis Stock Performance

The firm has a 50 day simple moving average of $2.46 and a 200 day simple moving average of $2.02. The firm has a market cap of $137.93 million, a P/E ratio of -1.65 and a beta of 1.36.

Aemetis (NASDAQ:AMTX) last posted its earnings results on Thursday, May 7th. The specialty chemicals company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The business had revenue of $54.62 million during the quarter, compared to analyst estimates of $66.70 million. Sell-side analysts predict that Aemetis, Inc will post -1.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Aemetis

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Aemetis by 148.3% during the 1st quarter. Bank of America Corp DE now owns 101,486 shares of the specialty chemicals company’s stock worth $324,000 after acquiring an additional 60,611 shares during the period. Royal Bank of Canada grew its position in shares of 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 purchasing an additional 8,825 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Aemetis during the 1st quarter valued at $272,000. Sanctuary Advisors LLC bought a new position in shares of Aemetis in the first quarter worth $33,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Aemetis in the first quarter worth $117,000. Hedge funds and other institutional investors own 27.02% of the company’s stock.

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.