Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Large Growth in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 882,000 shares, a growth of 28.4% from the February 13th total of 687,000 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average daily volume of 683,800 shares, the short-interest ratio is currently 1.3 days.

Alto Ingredients Price Performance

Alto Ingredients stock opened at $1.32 on Monday. Alto Ingredients has a fifty-two week low of $1.18 and a fifty-two week high of $2.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.22 and a quick ratio of 2.15. The firm has a market capitalization of $101.17 million, a price-to-earnings ratio of -2.54 and a beta of 1.73. The company’s 50 day simple moving average is $1.61 and its 200 day simple moving average is $1.58.

Hedge Funds Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. lifted its holdings in Alto Ingredients by 20.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,601,379 shares of the company’s stock worth $2,498,000 after acquiring an additional 274,918 shares in the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of Alto Ingredients during the fourth quarter worth about $1,465,000. Geode Capital Management LLC lifted its holdings in shares of Alto Ingredients by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 893,951 shares of the company’s stock valued at $1,395,000 after purchasing an additional 8,435 shares in the last quarter. Jane Street Group LLC grew its position in shares of Alto Ingredients by 39.9% in the 4th quarter. Jane Street Group LLC now owns 405,182 shares of the company’s stock valued at $632,000 after purchasing an additional 115,578 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Alto Ingredients by 5.4% during 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. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.50 price objective on shares of Alto Ingredients in a report on Thursday, March 6th.

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.