Foundry Partners LLC Has $2.90 Million Stake in Pacific Ethanol, Inc. (PEIX)
Foundry Partners LLC cut its stake in Pacific Ethanol, Inc. (NASDAQ:PEIX) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 464,075 shares of the oil and gas company’s stock after selling 2,200 shares during the period. Foundry Partners LLC’s holdings in Pacific Ethanol were worth $2,900,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PEIX. OppenheimerFunds Inc. raised its position in Pacific Ethanol by 4.7% in the first quarter. OppenheimerFunds Inc. now owns 16,212 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 728 shares in the last quarter. American International Group Inc. raised its position in Pacific Ethanol by 7.1% in the first quarter. American International Group Inc. now owns 17,659 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,163 shares in the last quarter. KCG Holdings Inc. purchased a new position in Pacific Ethanol during the first quarter valued at about $149,000. Gotham Asset Management LLC raised its position in Pacific Ethanol by 110.7% in the first quarter. Gotham Asset Management LLC now owns 23,809 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 12,508 shares in the last quarter. Finally, Eagle Global Advisors LLC purchased a new position in Pacific Ethanol during the second quarter valued at about $237,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) opened at 4.55 on Wednesday. The stock’s 50 day moving average is $5.93 and its 200-day moving average is $6.61. Pacific Ethanol, Inc. has a one year low of $4.55 and a one year high of $10.95. The stock’s market capitalization is $200.07 million.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.18. Pacific Ethanol had a negative net margin of 0.72% and a negative return on equity of 3.02%. The firm had revenue of $405.20 million during the quarter, compared to analyst estimates of $410.34 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. Pacific Ethanol’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Pacific Ethanol, Inc. will post ($0.38) EPS for the current fiscal year.
Several equities analysts have issued reports on the stock. Cowen and Company set a $13.00 price target on shares of Pacific Ethanol and gave the stock a “buy” rating in a report on Saturday, July 29th. HC Wainwright set a $14.00 price target on shares of Pacific Ethanol and gave the stock a “buy” rating in a report on Friday, August 4th. ValuEngine lowered shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Pacific Ethanol from a “strong sell” rating to a “hold” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Pacific Ethanol presently has a consensus rating of “Buy” and an average target price of $12.50.
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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