Empowered Funds LLC Has $390,000 Position in Alto Ingredients, Inc. (NASDAQ:ALTO)

Empowered Funds LLC boosted its holdings in Alto Ingredients, Inc. (NASDAQ:ALTO) by 5.4% during the third quarter, Holdings Channel reports. The fund owned 241,977 shares of the company’s stock after purchasing an additional 12,328 shares during the period. Empowered Funds LLC’s holdings in Alto Ingredients were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Alto Ingredients during the first quarter worth approximately $62,000. Virtu Financial LLC bought a new position in shares of Alto Ingredients during the first quarter worth approximately $68,000. Marshall Wace LLP acquired a new stake in Alto Ingredients during the 2nd quarter worth approximately $202,000. GSA Capital Partners LLP boosted its stake in Alto Ingredients by 100.5% in the 3rd quarter. GSA Capital Partners LLP now owns 247,676 shares of the company’s stock valued at $399,000 after purchasing an additional 124,163 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in Alto Ingredients in the 2nd quarter valued at $400,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $5.50 target price on shares of Alto Ingredients in a report on Wednesday, August 7th.

Alto Ingredients Price Performance

Shares of Alto Ingredients stock opened at $1.40 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $107.31 million, a price-to-earnings ratio of -2.69 and a beta of 1.97. Alto Ingredients, Inc. has a twelve month low of $1.18 and a twelve month high of $3.00. The company has a 50-day simple moving average of $1.62 and a two-hundred day simple moving average of $1.53.

Alto Ingredients (NASDAQ:ALTO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The business had revenue of $251.81 million during the quarter, compared to analyst estimates of $274.94 million. Alto Ingredients had a negative net margin of 3.61% and a negative return on equity of 11.22%. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Analysts forecast that Alto Ingredients, Inc. will post -0.37 EPS for the current year.

Alto Ingredients 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.