Alto Ingredients (NASDAQ:ALTO) Director Gilbert Nathan Purchases 10,000 Shares

Alto Ingredients, Inc. (NASDAQ:ALTO) Director Gilbert Nathan purchased 10,000 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $3.93 per share, with a total value of $39,300.00. Following the completion of the transaction, the director owned 866,393 shares of the company’s stock, valued at approximately $3,404,924.49. The trade was a 1.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alto Ingredients Price Performance

Shares of ALTO opened at $3.96 on Tuesday. The company has a 50 day moving average of $4.58 and a two-hundred day moving average of $4.73. The company has a quick ratio of 2.17, a current ratio of 3.19 and a debt-to-equity ratio of 0.23. Alto Ingredients, Inc. has a twelve month low of $0.92 and a twelve month high of $6.11. The company has a market cap of $307.17 million, a price-to-earnings ratio of 5.91 and a beta of 0.16.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $245.70 million for the quarter, compared to analyst estimates of $231.24 million. Alto Ingredients had a return on equity of 18.54% and a net margin of 5.51%. As a group, analysts predict that Alto Ingredients, Inc. will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alto Ingredients

A number of large investors have recently bought and sold shares of ALTO. BlackRock Inc. acquired a new stake in Alto Ingredients in the 2nd quarter valued at $31,322,000. Arrowstreet Capital Limited Partnership raised its position in Alto Ingredients by 67.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock worth $8,665,000 after acquiring an additional 723,996 shares during the period. Renaissance Technologies LLC raised its position in Alto Ingredients by 9.8% during the first quarter. Renaissance Technologies LLC now owns 1,673,657 shares of the company’s stock worth $8,100,000 after acquiring an additional 149,657 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in Alto Ingredients by 590.1% during the first quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock valued at $4,843,000 after purchasing an additional 855,703 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alto Ingredients during the second quarter valued at $4,878,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Alto Ingredients in a research note on Friday, July 31st. HC Wainwright reaffirmed a “buy” rating on shares of Alto Ingredients in a report on Thursday, August 6th. Scotiabank set a $10.00 target price on shares of Alto Ingredients in a report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Alto Ingredients from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.00.

About Alto Ingredients

Alto Ingredients, Inc is a renewable fuels and specialty alcohols company that produces and markets low-carbon ethanol and related products. Its offerings are used as transportation fuel, fuel additives, industrial and beverage alcohol, and in other commercial applications.

The company also produces co-products from its ethanol manufacturing operations, including distillers grains used as animal feed and corn oil used in feed, fuel and industrial markets. Alto Ingredients has pursued opportunities to develop lower-carbon products and improve the value of its agricultural and renewable fuel operations.

Previously known as Pacific Ethanol, the company adopted the Alto Ingredients name in 2020 to reflect its broader focus beyond conventional ethanol production.