Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Expands By 27.0%

Alto Ingredients, Inc. (NASDAQ:ALTO) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 973,400 shares, an increase of 27.0% from the October 31st total of 766,300 shares. Based on an average daily trading volume, of 749,300 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Alto Ingredients

Several hedge funds and other institutional investors have recently modified their holdings of ALTO. Virtu Financial LLC purchased a new position in Alto Ingredients during the first quarter valued at approximately $68,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Alto Ingredients by 137.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,788 shares of the company’s stock worth $95,000 after purchasing an additional 34,061 shares during the period. Barclays PLC raised its position in shares of Alto Ingredients by 123.9% in the third quarter. Barclays PLC now owns 76,703 shares of the company’s stock worth $123,000 after buying an additional 42,450 shares in the last quarter. Corsair Capital Management L.P. bought a new stake in Alto Ingredients during the third quarter valued at $142,000. Finally, Marshall Wace LLP bought a new position in Alto Ingredients in the 2nd quarter worth about $202,000. 42.44% of the stock is currently owned by institutional investors.

Alto Ingredients Stock Performance

Alto Ingredients stock traded down $0.03 during mid-day trading on Friday, reaching $1.45. The company’s stock had a trading volume of 465,596 shares, compared to its average volume of 602,589. The company has a market capitalization of $111.14 million, a P/E ratio of -2.79 and a beta of 1.97. The firm’s fifty day moving average price is $1.60 and its two-hundred day moving average price is $1.53. Alto Ingredients has a 12-month low of $1.18 and a 12-month high of $3.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.15 and a current ratio of 3.22.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $251.81 million during the quarter, compared to analysts’ expectations of $274.94 million. Alto Ingredients had a negative net margin of 3.61% and a negative return on equity of 11.22%. During the same quarter last year, the firm posted ($0.05) earnings per share. Sell-side analysts predict that Alto Ingredients will post -0.37 EPS for the current fiscal year.

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.