Alto Ingredients (NASDAQ:ALTO) Announces Earnings Results

by · The Markets Daily

Alto Ingredients (NASDAQ:ALTO – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.26, FiscalAI reports. The business had revenue of $231.97 million during the quarter, compared to analysts’ expectations of $234.83 million. Alto Ingredients had a negative net margin of 5.44% and a negative return on equity of 12.02%.

Alto Ingredients Stock Performance

Shares of ALTO remained flat at $2.60 during trading hours on Wednesday. The company had a trading volume of 1,346,741 shares, compared to its average volume of 853,400. The stock has a 50-day moving average price of $2.64 and a 200-day moving average price of $1.94. Alto Ingredients has a 52-week low of $0.76 and a 52-week high of $3.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.30 and a current ratio of 3.56. The firm has a market capitalization of $201.08 million, a P/E ratio of -3.77 and a beta of 0.60.

Hedge Funds Weigh In On Alto Ingredients

Several hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in Alto Ingredients in the 4th quarter valued at about $326,000. Empowered Funds LLC boosted its holdings in shares of Alto Ingredients by 8.5% during the 1st quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock worth $314,000 after purchasing an additional 21,626 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Alto Ingredients in the fourth quarter valued at approximately $312,000. NewEdge Advisors LLC acquired a new stake in shares of Alto Ingredients in the fourth quarter valued at approximately $204,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Alto Ingredients during the fourth quarter worth approximately $164,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALTO shares. Wall Street Zen raised Alto Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alto Ingredients in a report on Monday, December 29th. Finally, Zacks Research lowered Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alto Ingredients currently has a consensus rating of “Hold” and an average price target of $5.50.

Check Out Our Latest Stock Analysis on ALTO

Alto Ingredients Company Profile

(Get Free Report)

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.

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