Craig Hallum Cuts Green Plains (NASDAQ:GPRE) Price Target to $26.00

Green Plains (NASDAQ:GPRE) had its target price reduced by Craig Hallum from $34.00 to $26.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also weighed in on the company. Roth Mkm reduced their price objective on Green Plains from $55.00 to $40.00 and set a buy rating on the stock in a research report on Monday, May 6th. Oppenheimer lowered Green Plains from an outperform rating to a market perform rating in a research report on Wednesday. Stephens restated an equal weight rating and set a $24.00 price objective on shares of Green Plains in a research report on Tuesday, May 7th. Bank of America reduced their price objective on Green Plains from $29.00 to $26.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. Finally, Truist Financial restated a buy rating and set a $25.00 price objective (down previously from $30.00) on shares of Green Plains in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $26.78.

Green Plains Price Performance

Shares of Green Plains stock traded down $1.00 during trading on Wednesday, reaching $13.21. 1,230,765 shares of the company’s stock were exchanged, compared to its average volume of 1,146,968. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.75. Green Plains has a 1-year low of $12.77 and a 1-year high of $34.62. The company has a market cap of $853.62 million, a P/E ratio of -10.74 and a beta of 1.58. The firm’s 50-day moving average price is $16.04 and its 200 day moving average price is $19.39.

Green Plains (NASDAQ:GPRE) last posted its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.35). Green Plains had a negative return on equity of 7.86% and a negative net margin of 2.43%. The business had revenue of $618.83 million for the quarter, compared to analyst estimates of $646.70 million. During the same period last year, the firm posted ($0.89) EPS. Green Plains’s quarterly revenue was down 27.8% on a year-over-year basis. As a group, research analysts anticipate that Green Plains will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Broad Bay Capital Management LP raised its stake in shares of Green Plains by 17.6% in the fourth quarter. Broad Bay Capital Management LP now owns 2,352,000 shares of the specialty chemicals company’s stock worth $59,317,000 after purchasing an additional 352,000 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in shares of Green Plains in the fourth quarter worth approximately $1,162,000. Vanguard Group Inc. raised its stake in shares of Green Plains by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,213,549 shares of the specialty chemicals company’s stock worth $106,266,000 after purchasing an additional 53,320 shares during the last quarter. Masters Capital Management LLC raised its stake in shares of Green Plains by 25.0% in the fourth quarter. Masters Capital Management LLC now owns 500,000 shares of the specialty chemicals company’s stock worth $12,610,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Green Plains by 73.4% in the fourth quarter. Rafferty Asset Management LLC now owns 167,954 shares of the specialty chemicals company’s stock valued at $4,236,000 after acquiring an additional 71,099 shares in the last quarter.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.