Alto Ingredients (NASDAQ:ALTO) Announces Quarterly Earnings Results

Alto Ingredients (NASDAQ:ALTO) released its earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06), Zacks reports. Alto Ingredients had a negative return on equity of 11.26% and a negative net margin of 3.49%. The business had revenue of $251.81 million during the quarter, compared to analysts’ expectations of $274.94 million. During the same quarter in the previous year, the business earned ($0.05) EPS.

Alto Ingredients Stock Down 37.6 %

ALTO stock traded down $0.73 during trading on Thursday, hitting $1.21. 7,651,783 shares of the company’s stock traded hands, compared to its average volume of 568,309. The firm has a market capitalization of $92.55 million, a P/E ratio of -2.43 and a beta of 1.97. Alto Ingredients has a 1 year low of $1.18 and a 1 year high of $3.00. The company has a quick ratio of 2.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $1.63 and a two-hundred day simple moving average of $1.58.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Alto Ingredients in a research note on Wednesday, August 7th.

About Alto Ingredients

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.