Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Update

Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) was the target of a significant growth in short interest in 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. Based on an average trading volume of 683,800 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Alto Ingredients

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Alto Ingredients by 78.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,109 shares of the company's stock worth $28,000 after purchasing an additional 7,968 shares during the period. Two Sigma Securities LLC purchased a new position in Alto Ingredients in the fourth quarter worth $50,000. SBI Securities Co. Ltd. purchased a new position in Alto Ingredients in the fourth quarter worth $54,000. XTX Topco Ltd purchased a new position in Alto Ingredients in the fourth quarter worth $94,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Alto Ingredients by 137.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,788 shares of the company's stock worth $95,000 after acquiring an additional 34,061 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Stock Performance

Shares of ALTO stock traded down $0.03 during trading hours on Thursday, hitting $1.24. The stock had a trading volume of 610,806 shares, compared to its average volume of 591,562. 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 stock's 50 day moving average is $1.59 and its 200 day moving average is $1.58. Alto Ingredients has a twelve month low of $1.18 and a twelve month high of $2.40. The firm has a market capitalization of $94.66 million, a PE ratio of -2.38 and a beta of 1.73.

Remove Ads

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued 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.