Pacific Ethanol, Inc. (NASDAQ:PEIX) has been given a consensus recommendation of “Hold” by the six research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $13.00.
PEIX has been the subject of several research reports. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 11th. ValuEngine cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Pacific Ethanol in a research note on Wednesday, June 28th. Finally, Cowen and Company set a $13.00 price target on shares of Pacific Ethanol and gave the stock a “buy” rating in a research note on Saturday, July 29th.
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Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Pacific Ethanol by 7.2% in the fourth quarter. State Street Corp now owns 694,518 shares of the oil and gas company’s stock valued at $6,601,000 after buying an additional 46,514 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Pacific Ethanol by 113.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,054,204 shares of the oil and gas company’s stock valued at $10,015,000 after buying an additional 559,890 shares during the last quarter. Federated Investors Inc. PA bought a new stake in Pacific Ethanol during the fourth quarter valued at approximately $107,000. Two Sigma Investments LP bought a new stake in Pacific Ethanol during the fourth quarter valued at approximately $145,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Pacific Ethanol by 11.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,291 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 2,633 shares during the last quarter. 64.59% of the stock is owned by institutional investors.
Pacific Ethanol (NASDAQ PEIX) traded up 1.77% during mid-day trading on Friday, reaching $5.75. 829,499 shares of the company’s stock were exchanged. Pacific Ethanol has a 52-week low of $5.55 and a 52-week high of $10.95. The stock has a 50-day moving average price of $6.15 and a 200 day moving average price of $6.79. The company’s market cap is $243.19 million.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.04) by $0.18. The business had revenue of $405.20 million for the quarter, compared to the consensus estimate of $410.34 million. Pacific Ethanol had a negative return on equity of 3.02% and a negative net margin of 0.72%. Pacific Ethanol’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. Equities analysts predict that Pacific Ethanol will post ($0.05) earnings per share for the current fiscal year.
About Pacific Ethanol
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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