Aemetis (NASDAQ:AMTX) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Aemetis, Inc (NASDAQ:AMTX) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.05 and traded as low as $1.55. Aemetis shares last traded at $1.56, with a volume of 710,859 shares.

Analysts Set New Price Targets

Several research analysts have commented on AMTX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aemetis in a research report on Monday, April 20th. Ascendiant Capital Markets lifted their target price on shares of Aemetis from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of Aemetis from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.88.

Aemetis Trading Up 0.6%

The company has a 50 day simple moving average of $2.03 and a 200 day simple moving average of $2.05. The stock has a market capitalization of $110.48 million, a PE ratio of -1.32 and a beta of 1.44.

Aemetis (NASDAQ:AMTX) last posted its quarterly earnings data on Thursday, May 7th. The specialty chemicals company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The business had revenue of $54.62 million during the quarter, compared to the consensus estimate of $66.70 million. On average, equities research analysts predict that Aemetis, Inc will post -1.11 EPS for the current year.

Hedge Funds Weigh In On Aemetis

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Aemetis by 10,632.5% during the first quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 8,825 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Aemetis during the 1st quarter worth $33,000. Creative Planning purchased a new stake in shares of Aemetis during the 2nd quarter worth $30,000. Prairiewood Capital LLC acquired a new position in shares of Aemetis during the 1st quarter worth $47,000. Finally, Bank of America Corp DE grew its stake in shares of Aemetis by 62.6% during the 3rd quarter. Bank of America Corp DE now owns 38,526 shares of the specialty chemicals company’s stock worth $87,000 after purchasing an additional 14,836 shares during the period. 27.02% of the stock is currently owned by hedge funds and other institutional investors.

About Aemetis

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.