What is HC Wainwright's Estimate for ALTO FY2024 Earnings?

Alto Ingredients, Inc. (NASDAQ:ALTO - Free Report) - Analysts at HC Wainwright decreased their FY2024 earnings estimates for Alto Ingredients in a research note issued to investors on Thursday, November 7th. HC Wainwright analyst A. Dayal now forecasts that the company will earn ($0.37) per share for the year, down from their previous estimate of ($0.04). HC Wainwright has a "Buy" rating and a $5.50 price objective on the stock. The consensus estimate for Alto Ingredients' current full-year earnings is ($0.37) per share. HC Wainwright also issued estimates for Alto Ingredients' Q4 2024 earnings at ($0.12) EPS.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Alto Ingredients had a negative return on equity of 11.15% and a negative net margin of 3.61%. The business had revenue of $251.81 million during the quarter, compared to the consensus estimate of $274.94 million. During the same quarter last year, the company earned ($0.05) earnings per share.

Alto Ingredients Trading Up 4.2 %

NASDAQ ALTO traded up $0.06 on Monday, reaching $1.36. The company had a trading volume of 1,288,451 shares, compared to its average volume of 583,818. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.09 and a quick ratio of 2.09. Alto Ingredients has a 1-year low of $1.18 and a 1-year high of $3.00. The company's fifty day moving average is $1.63 and its 200-day moving average is $1.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its holdings in Alto Ingredients by 53.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company's stock valued at $2,423,000 after acquiring an additional 583,967 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Alto Ingredients in the second quarter valued at approximately $400,000. Marshall Wace LLP bought a new position in shares of Alto Ingredients during the second quarter worth approximately $202,000. Empowered Funds LLC acquired a new stake in Alto Ingredients during the 1st quarter worth approximately $286,000. Finally, GSA Capital Partners LLP boosted its stake in Alto Ingredients by 100.5% in the 3rd quarter. GSA Capital Partners LLP now owns 247,676 shares of the company's stock valued at $399,000 after purchasing an additional 124,163 shares during the period. 42.44% of the stock is currently owned by institutional investors.

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.