Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Expands By 27.0%

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 973,400 shares, an increase of 27.0% from the October 31st total of 766,300 shares. Based on an average daily volume of 749,300 shares, the short-interest ratio is presently 1.3 days. Approximately 1.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Alto Ingredients

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Alto Ingredients in the third quarter worth $139,000. Barclays PLC boosted its holdings in shares of Alto Ingredients by 123.9% in the 3rd quarter. Barclays PLC now owns 76,703 shares of the company’s stock worth $123,000 after buying an additional 42,450 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Alto Ingredients by 101.2% in the 3rd quarter. Jane Street Group LLC now owns 289,604 shares of the company’s stock worth $466,000 after buying an additional 145,687 shares during the last quarter. Corsair Capital Management L.P. bought a new position in Alto Ingredients during the third quarter valued at about $142,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Alto Ingredients by 5.4% during the third quarter. The Manufacturers Life Insurance Company now owns 370,852 shares of the company’s stock worth $597,000 after buying an additional 19,104 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Alto Ingredients Trading Down 2.0 %

Shares of ALTO stock traded down $0.03 during trading hours on Friday, hitting $1.45. 465,596 shares of the company were exchanged, compared to its average volume of 602,589. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.15 and a current ratio of 3.22. Alto Ingredients has a fifty-two week low of $1.18 and a fifty-two week high of $3.00. The company has a 50 day simple moving average of $1.60 and a two-hundred day simple moving average of $1.53. The firm has a market cap of $111.14 million, a P/E ratio of -2.79 and a beta of 1.97.

Alto Ingredients (NASDAQ:ALTO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Alto Ingredients had a negative net margin of 3.61% and a negative return on equity of 11.22%. The business had revenue of $251.81 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter last year, the firm posted ($0.05) EPS. Equities analysts anticipate that Alto Ingredients will post -0.37 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $5.50 price target on shares of Alto Ingredients in a report on Wednesday, August 7th.

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.