Aemetis (NASDAQ:AMTX) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Aemetis, Inc (NASDAQ:AMTX) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.05 and traded as low as $1.7324. Aemetis shares last traded at $1.76, with a volume of 811,703 shares.

Wall Street Analysts Forecast Growth

AMTX has been the subject of several analyst reports. Ascendiant Capital Markets upped their price objective on Aemetis from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Aemetis in a research note on Monday, April 20th. Loop Capital set a $1.75 price target on Aemetis in a report on Thursday, March 12th. Finally, Wall Street Zen lowered shares of Aemetis from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.88.

Aemetis Stock Down 0.6%

The firm has a market capitalization of $123.85 million, a price-to-earnings ratio of -1.48 and a beta of 1.44. The company has a fifty day moving average price of $2.23 and a two-hundred day moving average price of $2.05.

Aemetis (NASDAQ:AMTX) last issued its quarterly 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 company had revenue of $54.62 million for the quarter, compared to analysts’ expectations of $66.70 million. On average, equities analysts anticipate that Aemetis, Inc will post -1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aemetis

Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its stake in Aemetis by 289.3% during the 4th quarter. Marshall Wace LLP now owns 559,754 shares of the specialty chemicals company’s stock valued at $778,000 after acquiring an additional 415,978 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Aemetis by 15.3% in the third quarter. Vanguard Group Inc. now owns 2,479,163 shares of the specialty chemicals company’s stock valued at $5,578,000 after purchasing an additional 329,760 shares during the period. Jane Street Group LLC purchased a new stake in shares of Aemetis during the second quarter worth approximately $634,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Aemetis during the third quarter worth $563,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Aemetis during the fourth quarter worth $327,000. Institutional investors and hedge funds 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.