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

Alto Ingredients, Inc. (NASDAQ:ALTO) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 766,300 shares, a drop of 13.6% from the October 15th total of 886,700 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 659,300 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALTO. Barclays PLC boosted its stake in shares of Alto Ingredients by 123.9% during the 3rd quarter. Barclays PLC now owns 76,703 shares of the company’s stock valued at $123,000 after purchasing an additional 42,450 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Alto Ingredients by 101.2% during the 3rd quarter. Jane Street Group LLC now owns 289,604 shares of the company’s stock worth $466,000 after acquiring an additional 145,687 shares during the period. Corsair Capital Management L.P. bought a new position in shares of Alto Ingredients in the 3rd quarter worth approximately $142,000. The Manufacturers Life Insurance Company lifted its stake in shares of Alto Ingredients by 5.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 370,852 shares of the company’s stock valued at $597,000 after purchasing an additional 19,104 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Alto Ingredients by 137.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,788 shares of the company’s stock valued at $95,000 after purchasing an additional 34,061 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.50 target price on shares of Alto Ingredients in a research note on Wednesday, August 7th.

Alto Ingredients Trading Down 0.7 %

NASDAQ:ALTO opened at $1.37 on Friday. Alto Ingredients has a 1 year low of $1.18 and a 1 year high of $3.00. The stock’s fifty day moving average price is $1.62 and its two-hundred day moving average price is $1.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.22 and a quick ratio of 2.09. The company has a market cap of $104.79 million, a P/E ratio of -2.63 and a beta of 1.97.

Alto Ingredients (NASDAQ:ALTO) last issued 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 company had revenue of $251.81 million during the quarter, compared to the consensus estimate of $274.94 million. Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. During the same period in the previous year, the company earned ($0.05) EPS. As a group, analysts expect that Alto Ingredients will post -0.37 EPS for the current year.

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.