Alto Ingredients (NASDAQ:ALTO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Alto Ingredients (NASDAQ:ALTO) from a sell rating to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alto Ingredients in a research report on Wednesday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.50.

Alto Ingredients Trading Down 2.8%

NASDAQ ALTO traded down $0.04 during trading hours on Friday, hitting $1.38. 2,137,316 shares of the company were exchanged, compared to its average volume of 585,451. Alto Ingredients has a 52 week low of $0.76 and a 52 week high of $1.93. The company has a quick ratio of 2.25, a current ratio of 3.52 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $1.12 and a 200 day moving average price of $1.08. The stock has a market cap of $106.81 million, a PE ratio of -1.50 and a beta of 0.62.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.25. Alto Ingredients had a negative return on equity of 18.78% and a negative net margin of 7.16%.The firm had revenue of $240.99 million for the quarter, compared to the consensus estimate of $235.68 million. Analysts forecast that Alto Ingredients will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alto Ingredients

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALTO. GSA Capital Partners LLP increased its holdings in shares of Alto Ingredients by 30.1% in the first quarter. GSA Capital Partners LLP now owns 515,334 shares of the company’s stock valued at $587,000 after purchasing an additional 119,149 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in Alto Ingredients during the 1st quarter worth about $199,000. Empowered Funds LLC raised its stake in shares of Alto Ingredients by 8.5% during the 1st quarter. Empowered Funds LLC now owns 275,552 shares of the company’s stock valued at $314,000 after buying an additional 21,626 shares during the last quarter. Peapod Lane Capital LLC boosted its stake in shares of Alto Ingredients by 29.6% in the second quarter. Peapod Lane Capital LLC now owns 1,221,842 shares of the company’s stock worth $1,405,000 after buying an additional 279,417 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in Alto Ingredients by 3.6% during the second quarter. Creative Financial Designs Inc. ADV now owns 1,017,303 shares of the company’s stock worth $1,170,000 after acquiring an additional 35,488 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Alto Ingredients Company Profile

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.