Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Drops By 13.6%

Alto Ingredients, Inc. (NASDAQ:ALTO - Get Free Report) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 766,300 shares, a drop of 13.6% from the October 15th total of 886,700 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 659,300 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analyst Weigh In

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

Alto Ingredients Stock Performance

Alto Ingredients stock traded down $0.01 during midday trading on Friday, hitting $1.37. The stock had a trading volume of 864,803 shares, compared to its average volume of 596,866. Alto Ingredients has a 52-week low of $1.18 and a 52-week high of $3.00. The company has a market capitalization of $104.79 million, a PE ratio of -2.63 and a beta of 1.97. The firm's fifty day moving average is $1.62 and its two-hundred day moving average is $1.55. The company has a current ratio of 3.22, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). The firm had revenue of $251.81 million during the quarter, compared to the consensus estimate of $274.94 million. Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, research analysts forecast that Alto Ingredients will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Alto Ingredients

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Alto Ingredients in the first quarter worth about $62,000. Renaissance Technologies LLC boosted its stake in Alto Ingredients by 53.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company's stock worth $2,423,000 after purchasing an additional 583,967 shares during the period. Acadian Asset Management LLC grew 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 buying an additional 46,454 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Alto Ingredients during the first quarter valued at approximately $286,000. Finally, Marshall Wace LLP bought a new stake in shares of Alto Ingredients during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

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.