Green Plains (NASDAQ:GPRE) Stock Price Up 6.1% - Here's What Happened

Green Plains Inc. (NASDAQ:GPRE - Get Free Report)'s stock price was up 6.1% during mid-day trading on Friday . The stock traded as high as $11.70 and last traded at $11.65. Approximately 638,128 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 1,081,001 shares. The stock had previously closed at $10.98.

Analyst Ratings Changes

GPRE has been the topic of a number of analyst reports. Oppenheimer cut Green Plains from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 7th. UBS Group lowered their price objective on Green Plains from $26.00 to $23.50 and set a "buy" rating on the stock in a research report on Monday, August 19th. BMO Capital Markets lowered their price objective on Green Plains from $22.00 to $17.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 7th. Truist Financial lowered their price objective on Green Plains from $25.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Finally, Craig Hallum lowered their price objective on Green Plains from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Green Plains currently has an average rating of "Moderate Buy" and an average price target of $25.50.

Green Plains Trading Up 4.6 %

The stock has a fifty day moving average of $13.02 and a 200 day moving average of $16.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.11 and a current ratio of 1.68. The company has a market capitalization of $742.47 million, a PE ratio of -9.34 and a beta of 1.52.

Green Plains (NASDAQ:GPRE - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.35). Green Plains had a negative return on equity of 4.94% and a negative net margin of 1.64%. The firm had revenue of $618.83 million during the quarter, compared to the consensus estimate of $646.70 million. During the same period in the previous year, the firm earned ($0.89) EPS. The business's revenue was down 27.8% compared to the same quarter last year. As a group, sell-side analysts predict that Green Plains Inc. will post -0.95 earnings per share for the current fiscal year.

Institutional Trading of Green Plains

A number of large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of Green Plains during the 2nd quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Green Plains during the 2nd quarter valued at approximately $41,000. nVerses Capital LLC bought a new position in shares of Green Plains during the 3rd quarter valued at approximately $65,000. Crewe Advisors LLC bought a new position in shares of Green Plains during the 1st quarter valued at approximately $150,000. Finally, DRW Securities LLC bought a new position in shares of Green Plains during the 2nd quarter valued at approximately $168,000.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.