Rhumbline Advisers Sells 9,622 Shares of Green Plains Inc. (NASDAQ:GPRE)

Rhumbline Advisers cut its position in shares of Green Plains Inc. (NASDAQ:GPRE) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,181 shares of the specialty chemicals company’s stock after selling 9,622 shares during the quarter. Rhumbline Advisers’ holdings in Green Plains were worth $3,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Green Plains in the fourth quarter worth $26,000. Crewe Advisors LLC bought a new stake in Green Plains in the first quarter worth $150,000. Cape Investment Advisory Inc. bought a new stake in Green Plains in the fourth quarter worth $196,000. Virtu Financial LLC bought a new stake in Green Plains in the fourth quarter worth $234,000. Finally, Quarry LP boosted its holdings in Green Plains by 41.8% in the fourth quarter. Quarry LP now owns 9,911 shares of the specialty chemicals company’s stock worth $250,000 after acquiring an additional 2,923 shares in the last quarter.

Green Plains Stock Up 3.8 %

Green Plains stock opened at $13.37 on Wednesday. The stock has a market cap of $863.96 million, a PE ratio of -10.87 and a beta of 1.53. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.11 and a current ratio of 1.68. Green Plains Inc. has a one year low of $11.63 and a one year high of $33.75. The stock has a fifty day moving average of $14.82 and a 200 day moving average of $17.74.

Green Plains (NASDAQ:GPRE) last issued its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.35). The company had revenue of $618.83 million during the quarter, compared to analysts’ expectations of $646.70 million. Green Plains had a negative return on equity of 4.94% and a negative net margin of 1.64%. The business’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.89) EPS. As a group, sell-side analysts predict that Green Plains Inc. will post -0.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on GPRE. Truist Financial reissued a “buy” rating and issued a $25.00 target price (down from $30.00) on shares of Green Plains in a report on Monday, August 5th. Oppenheimer downgraded Green Plains from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 7th. BMO Capital Markets decreased their price target on Green Plains from $22.00 to $17.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Craig Hallum decreased their price target on Green Plains from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group decreased their price target on Green Plains from $26.00 to $23.50 and set a “buy” rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.28.

Green Plains Profile

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.