HC Wainwright set a $8.00 target price on Pacific Ethanol (NASDAQ:PEIX) in a research note issued to investors on Friday, The Fly reports. The firm currently has a buy rating on the oil and gas company’s stock.
PEIX has been the topic of several other research reports. Zacks Investment Research lowered Pacific Ethanol from a buy rating to a hold rating in a research report on Tuesday, July 17th. B. Riley set a $7.00 price objective on Pacific Ethanol and gave the stock a buy rating in a research report on Sunday, August 12th. Finally, ValuEngine upgraded Pacific Ethanol from a sell rating to a hold rating in a research report on Thursday, August 2nd.
Shares of NASDAQ PEIX opened at $1.78 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.21 and a debt-to-equity ratio of 0.66. Pacific Ethanol has a 52 week low of $1.38 and a 52 week high of $5.09.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.05). Pacific Ethanol had a negative return on equity of 11.23% and a negative net margin of 2.66%. The company had revenue of $370.41 million during the quarter, compared to analysts’ expectations of $404.30 million. On average, research analysts anticipate that Pacific Ethanol will post -0.72 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. United Services Automobile Association boosted its position in Pacific Ethanol by 65.6% in the 2nd quarter. United Services Automobile Association now owns 179,761 shares of the oil and gas company’s stock worth $467,000 after purchasing an additional 71,200 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Pacific Ethanol during the 2nd quarter valued at approximately $1,606,000. Paloma Partners Management Co purchased a new position in shares of Pacific Ethanol during the 2nd quarter valued at approximately $547,000. Valeo Financial Advisors LLC lifted its position in shares of Pacific Ethanol by 184.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 53,200 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 34,500 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Pacific Ethanol by 89.8% during the 2nd quarter. Renaissance Technologies LLC now owns 182,600 shares of the oil and gas company’s stock valued at $475,000 after buying an additional 86,400 shares in the last quarter. Institutional investors and hedge funds own 64.78% of the company’s stock.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc produces and markets low-carbon renewable fuels in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; specialty alcohols; and co-products, such as wet distillers grains, dry distillers grains with solubles, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.
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