Aemetis (NASDAQ:AMTX) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Aemetis, Inc (NASDAQ:AMTX)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.97 and traded as low as $1.41. Aemetis shares last traded at $1.42, with a volume of 481,297 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AMTX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aemetis in a research note on Wednesday, January 21st. Ascendiant Capital Markets reduced their price target on shares of Aemetis from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Aemetis has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Aemetis Trading Down 3.4%

The stock has a market cap of $94.00 million, a P/E ratio of -0.88 and a beta of 2.66. The business’s fifty day simple moving average is $1.52 and its 200 day simple moving average is $1.97.

Institutional Investors Weigh In On Aemetis

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in shares of Aemetis by 71.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,404 shares of the specialty chemicals company’s stock valued at $380,000 after acquiring an additional 91,367 shares during the last quarter. Ethic Inc. bought a new position in Aemetis in the second quarter valued at approximately $42,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Aemetis during the second quarter worth $51,000. Creative Planning acquired a new position in Aemetis in the 2nd quarter worth $30,000. Finally, Catalyst Funds Management Pty Ltd bought a new position in Aemetis during the 2nd quarter worth about $25,000. 27.02% of the stock is owned by institutional investors.

Aemetis Company Profile

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.