Alto Ingredients Target of Unusually High Options Trading (NASDAQ:ALTO)

Alto Ingredients, Inc. (NASDAQ:ALTO) saw some unusual options trading activity on Thursday. Investors purchased 2,718 call options on the stock. This represents an increase of approximately 224% compared to the typical daily volume of 838 call options.

Alto Ingredients Trading Down 33.5 %

Shares of NASDAQ:ALTO traded down $0.65 during trading on Thursday, reaching $1.29. 2,395,237 shares of the company were exchanged, compared to its average volume of 541,942. The business’s fifty day simple moving average is $1.63 and its 200-day simple moving average is $1.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.09 and a quick ratio of 2.09. Alto Ingredients has a 12-month low of $1.22 and a 12-month high of $3.00. The firm has a market capitalization of $98.67 million, a PE ratio of -2.55 and a beta of 1.97.

Alto Ingredients (NASDAQ:ALTO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. The firm had revenue of $236.47 million during the quarter, compared to analyst estimates of $236.17 million. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. During the same quarter in the previous year, the business posted $0.10 EPS. On average, research analysts anticipate that Alto Ingredients will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Alto Ingredients

A number of hedge funds and other institutional investors have recently made changes to their positions in ALTO. SG Americas Securities LLC acquired a new position in shares of Alto Ingredients during the first quarter valued at approximately $62,000. Virtu Financial LLC acquired a new stake in shares of Alto Ingredients in the first quarter valued at $68,000. Susquehanna Fundamental Investments LLC purchased a new position in Alto Ingredients in the first quarter valued at $131,000. Empowered Funds LLC purchased a new stake in Alto Ingredients during the 1st quarter worth about $286,000. Finally, Marshall Wace LLP acquired a new stake in Alto Ingredients in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 target price on shares of Alto Ingredients in a research note on Wednesday, August 7th.

About Alto Ingredients

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.