Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Up 76.2% in October

Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 886,700 shares, an increase of 76.2% from the September 30th total of 503,300 shares. Based on an average trading volume of 475,800 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.2% of the company's stock are short sold.

Alto Ingredients Price Performance

Shares of NASDAQ ALTO traded down $0.01 during mid-day trading on Friday, hitting $1.71. 330,838 shares of the company's stock traded hands, compared to its average volume of 383,816. 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 $1.28 and a 1 year high of $4.98. The company has a market capitalization of $130.80 million, a P/E ratio of -3.23 and a beta of 1.98. The company's 50-day moving average is $1.57 and its two-hundred day moving average is $1.59.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. The company had revenue of $236.47 million during the quarter, compared to the consensus estimate of $236.17 million. During the same period last year, the firm earned $0.10 earnings per share. On average, equities analysts anticipate that Alto Ingredients will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and issued a $5.50 price objective on shares of Alto Ingredients in a report on Wednesday, August 7th.

Hedge Funds Weigh In On Alto Ingredients

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Alto Ingredients during the 1st quarter worth approximately $62,000. Virtu Financial LLC purchased a new position in shares of Alto Ingredients in the 1st quarter valued at about $68,000. Acadian Asset Management LLC increased its holdings in Alto Ingredients by 8.6% during the 1st quarter. Acadian Asset Management LLC now owns 585,846 shares of the company's stock valued at $1,276,000 after acquiring an additional 46,454 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Alto Ingredients during the 1st quarter valued at about $131,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Alto Ingredients by 48.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 351,748 shares of the company's stock worth $508,000 after purchasing an additional 114,571 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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.