Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Declines By 19.8%

Alto Ingredients, Inc. (NASDAQ:ALTO) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 585,300 shares, a drop of 19.8% from the November 30th total of 729,600 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 790,800 shares, the short-interest ratio is presently 0.7 days.

Alto Ingredients Stock Up 1.2 %

Shares of NASDAQ ALTO opened at $1.68 on Friday. 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 company has a 50-day moving average price of $1.54 and a 200-day moving average price of $1.52. The stock has a market capitalization of $128.77 million, a P/E ratio of -3.23 and a beta of 1.91. Alto Ingredients has a 1 year low of $1.18 and a 1 year high of $2.82.

Alto Ingredients (NASDAQ:ALTO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The company had revenue of $251.81 million for 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 last year, the firm posted ($0.05) EPS. On average, equities research analysts forecast that Alto Ingredients will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Alto Ingredients by 53.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock worth $2,423,000 after acquiring an additional 583,967 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings 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 worth $1,812,000 after purchasing an additional 93,054 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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. Jane Street Group LLC grew its position in Alto Ingredients by 101.2% in the 3rd quarter. Jane Street Group LLC now owns 289,604 shares of the company’s stock worth $466,000 after purchasing an additional 145,687 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Alto Ingredients in the 2nd quarter valued at about $400,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

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.