Pacific Ethanol, Inc. (NASDAQ:PEIX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, May 11th.
According to Zacks, “Pacific Ethanol, Inc. is currently in the business of marketing ethanol in the Western United States through Kinergy Marketing, a wholly-owned subsidiary of the Company and the largest West Coast-based marketer of renewable fuels. The Company intends, in the near future, to construct an ethanol production facility at its Madera County, California, site. “
Separately, Roth Capital set a $12.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research note on Monday, March 20th.
Pacific Ethanol (NASDAQ PEIX) opened at 6.00 on Thursday. The firm has a 50-day moving average of $6.41 and a 200-day moving average of $7.52. The company has a market capitalization of $262.25 million, a PE ratio of 333.33 and a beta of 1.86. Pacific Ethanol has a 52 week low of $4.64 and a 52 week high of $10.95.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.27. Pacific Ethanol had a net margin of 0.12% and a return on equity of 0.52%. The business had revenue of $386.30 million during the quarter, compared to analyst estimates of $385.81 million. During the same quarter last year, the company posted ($0.32) earnings per share. The company’s revenue was up 12.8% compared to the same quarter last year. Equities analysts expect that Pacific Ethanol will post $0.41 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of PEIX. Boston Partners raised its position in shares of Pacific Ethanol by 141.7% in the first quarter. Boston Partners now owns 1,507,400 shares of the oil and gas company’s stock valued at $10,325,000 after buying an additional 883,860 shares in the last quarter. LSV Asset Management raised its position in shares of Pacific Ethanol by 17,614.6% in the first quarter. LSV Asset Management now owns 726,300 shares of the oil and gas company’s stock valued at $4,975,000 after buying an additional 722,200 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Pacific Ethanol by 56.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,645,060 shares of the oil and gas company’s stock valued at $11,269,000 after buying an additional 590,856 shares in the last quarter. DnB Asset Management AS raised its position in shares of Pacific Ethanol by 28.8% in the first quarter. DnB Asset Management AS now owns 1,682,039 shares of the oil and gas company’s stock valued at $11,522,000 after buying an additional 375,901 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Pacific Ethanol by 29.4% in the first quarter. Vanguard Group Inc. now owns 1,540,132 shares of the oil and gas company’s stock valued at $10,551,000 after buying an additional 349,854 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.
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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