Alto Ingredients, Inc. (NASDAQ:ALTO) Short Interest Up 109.9% in March
by Kim Johansen · The Markets DailyAlto Ingredients, Inc. (NASDAQ:ALTO – Get Free Report) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 1,499,882 shares, an increase of 109.9% from the February 26th total of 714,667 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average trading volume of 4,809,710 shares, the short-interest ratio is presently 0.3 days.
Alto Ingredients Stock Up 1.8%
Shares of NASDAQ:ALTO opened at $4.51 on Friday. The company’s fifty day moving average is $3.23 and its two-hundred day moving average is $2.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.60 and a current ratio of 2.64. Alto Ingredients has a 1-year low of $0.76 and a 1-year high of $4.89. The stock has a market capitalization of $348.58 million, a price-to-earnings ratio of 28.19 and a beta of 0.60.
Alto Ingredients (NASDAQ:ALTO – Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The business had revenue of $231.97 million during the quarter, compared to the consensus estimate of $234.83 million. Alto Ingredients had a net margin of 1.45% and a return on equity of 2.99%. Equities analysts anticipate that Alto Ingredients will post -0.37 EPS for the current year.
Hedge Funds Weigh In On Alto Ingredients
Several institutional investors have recently made changes to their positions in ALTO. Vontobel Holding Ltd. bought a new stake in shares of Alto Ingredients in the 4th quarter worth approximately $33,000. Leonteq Securities AG bought a new position in Alto Ingredients during the 4th quarter worth $44,000. CreativeOne Wealth LLC acquired a new stake in Alto Ingredients in the fourth quarter worth $46,000. Virtu Financial LLC acquired a new stake in Alto Ingredients in the third quarter worth $52,000. Finally, JPMorgan Chase & Co. lifted its stake in Alto Ingredients by 2,539,250.0% in the second quarter. JPMorgan Chase & Co. now owns 50,787 shares of the company’s stock valued at $58,000 after buying an additional 50,785 shares during the last quarter. 42.44% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on ALTO shares. Weiss Ratings upgraded shares of Alto Ingredients from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, March 16th. Zacks Research upgraded Alto Ingredients from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen upgraded Alto Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy”.
Read Our Latest Report on ALTO
Alto Ingredients Company Profile
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.