Green Plains (NASDAQ:GPRE) Trading 6.7% Higher – Here’s What Happened
by Mitch Edgeman · The Markets DailyGreen Plains, Inc. (NASDAQ:GPRE – Get Free Report)’s share price shot up 6.7% on Tuesday . The company traded as high as $16.49 and last traded at $16.40. 529,674 shares changed hands during trading, a decline of 65% from the average session volume of 1,521,650 shares. The stock had previously closed at $15.37.
Analyst Upgrades and Downgrades
A number of research firms have commented on GPRE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Plains in a research report on Thursday, January 22nd. Oppenheimer raised their price target on Green Plains from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. UBS Group upped their price objective on Green Plains from $7.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. BMO Capital Markets increased their target price on Green Plains from $12.00 to $14.00 and gave the company a “market perform” rating in a report on Friday, February 6th. Finally, Wall Street Zen raised Green Plains from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.14.
View Our Latest Research Report on GPRE
Green Plains Price Performance
The firm has a 50 day moving average price of $13.09 and a 200 day moving average price of $11.11. The stock has a market capitalization of $1.16 billion, a PE ratio of -8.77, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. The company has a current ratio of 1.79, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.
Green Plains (NASDAQ:GPRE – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.10. The business had revenue of $428.85 million during the quarter, compared to analyst estimates of $536.56 million. Green Plains had a negative return on equity of 8.70% and a negative net margin of 5.80%.Green Plains’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.86) earnings per share. Research analysts anticipate that Green Plains, Inc. will post -0.5 earnings per share for the current year.
Institutional Investors Weigh In On Green Plains
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Green Plains by 192.2% during the third quarter. GAMMA Investing LLC now owns 4,547 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 2,991 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Green Plains by 19.0% in the second quarter. PNC Financial Services Group Inc. now owns 10,122 shares of the specialty chemicals company’s stock worth $61,000 after purchasing an additional 1,619 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Green Plains during the 2nd quarter valued at $61,000. Quarry LP purchased a new position in shares of Green Plains during the 3rd quarter valued at $67,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Green Plains during the 2nd quarter valued at $75,000.
Green Plains Company Profile
Green Plains Inc is a leading producer of fuel-grade ethanol and related co-products in the United States. Headquartered in Omaha, Nebraska, the company operates an integrated network of biorefineries that convert corn and other grains into renewable fuels. Through its production facilities, Green Plains supplies ethanol to domestic fuel markets and export channels, supporting efforts to reduce greenhouse gas emissions and promote cleaner-burning transportation options.
Beyond ethanol, Green Plains manufactures a range of co-products that add value throughout the agricultural supply chain.