Alto Ingredients’ (ALTO) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Alto Ingredients (NASDAQ:ALTO) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $5.50 price target on the stock. HC Wainwright also issued estimates for Alto Ingredients’ Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.15 EPS, FY2024 earnings at ($0.04) EPS and FY2025 earnings at $0.34 EPS.

Alto Ingredients Stock Down 2.8 %

NASDAQ ALTO traded down $0.04 on Wednesday, hitting $1.39. 791,071 shares of the stock traded hands, compared to its average volume of 553,181. Alto Ingredients has a twelve month low of $1.28 and a twelve month high of $4.98. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $105.22 million, a P/E ratio of -3.66 and a beta of 1.95. The stock has a 50-day moving average of $1.47 and a 200 day moving average of $1.79.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Alto Ingredients had a negative net margin of 2.31% and a negative return on equity of 7.18%. The business had revenue of $236.47 million during the quarter, compared to analyst estimates of $236.17 million. During the same period in the previous year, the business posted $0.10 EPS. As a group, analysts expect that Alto Ingredients will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alto Ingredients

A number of hedge funds have recently added to or reduced their stakes in ALTO. SG Americas Securities LLC acquired a new position in Alto Ingredients during the 1st quarter valued at about $62,000. Tower Research Capital LLC TRC raised its stake in Alto Ingredients by 959.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 23,955 shares of the company’s stock valued at $64,000 after acquiring an additional 21,693 shares in the last quarter. Virtu Financial LLC acquired a new position in Alto Ingredients during the 1st quarter worth $68,000. Brendel Financial Advisors LLC bought a new position in shares of Alto Ingredients in the fourth quarter worth $71,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Alto Ingredients during the first quarter valued at $131,000. 42.44% of the stock is currently owned by institutional investors.

Alto Ingredients Company Profile

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.