Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Significant Decline in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 766,300 shares, a decline of 13.6% from the October 15th total of 886,700 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 659,300 shares, the short-interest ratio is currently 1.2 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALTO. Renaissance Technologies LLC raised its position in shares of Alto Ingredients by 53.4% during the second quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock valued at $2,423,000 after buying an additional 583,967 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in Alto Ingredients by 9.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,125,552 shares of the company’s stock valued at $1,812,000 after acquiring an additional 93,054 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Alto Ingredients by 8.6% in the 1st quarter. Acadian Asset Management LLC now owns 585,846 shares of the company’s stock valued at $1,276,000 after acquiring an additional 46,454 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Alto Ingredients by 5.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 370,852 shares of the company’s stock worth $597,000 after purchasing an additional 19,104 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Alto Ingredients by 48.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 351,748 shares of the company’s stock valued at $508,000 after purchasing an additional 114,571 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Alto Ingredients Stock Down 0.7 %

Shares of ALTO stock opened at $1.37 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.22 and a quick ratio of 2.09. Alto Ingredients has a one year low of $1.18 and a one year high of $3.00. The company’s fifty day moving average price is $1.62 and its 200-day moving average price is $1.55. The company has a market capitalization of $105.01 million, a price-to-earnings ratio of -2.63 and a beta of 1.97.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The business had revenue of $251.81 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned ($0.05) earnings per share. Sell-side analysts expect that Alto Ingredients will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $5.50 target price on shares of Alto Ingredients in a report 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.