AQR Capital Management LLC Lowers Position in Green Plains Inc. (NASDAQ:GPRE)

AQR Capital Management LLC lowered its holdings in Green Plains Inc. (NASDAQ:GPRE) by 72.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,226 shares of the specialty chemicals company’s stock after selling 47,988 shares during the quarter. AQR Capital Management LLC’s holdings in Green Plains were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Green Plains in the 2nd quarter valued at about $41,000. Point72 Hong Kong Ltd purchased a new position in shares of Green Plains during the 2nd quarter valued at about $29,000. 272 Capital LP raised its holdings in shares of Green Plains by 10.1% during the 2nd quarter. 272 Capital LP now owns 440,058 shares of the specialty chemicals company’s stock valued at $6,979,000 after buying an additional 40,546 shares in the last quarter. Point72 DIFC Ltd raised its holdings in shares of Green Plains by 1,978.6% during the 2nd quarter. Point72 DIFC Ltd now owns 40,450 shares of the specialty chemicals company’s stock valued at $642,000 after buying an additional 38,504 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Green Plains by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 142,217 shares of the specialty chemicals company’s stock valued at $2,256,000 after buying an additional 10,491 shares in the last quarter.

Green Plains Price Performance

Shares of GPRE stock opened at $12.34 on Thursday. The firm has a market cap of $797.40 million, a P/E ratio of -10.03 and a beta of 1.52. Green Plains Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $31.92. The business’s 50 day moving average price is $13.34 and its 200-day moving average price is $16.56. 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 (NASDAQ:GPRE) last released its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.35). Green Plains had a negative net margin of 1.64% and a negative return on equity of 4.94%. The firm had revenue of $618.83 million for the quarter, compared to the consensus estimate of $646.70 million. During the same quarter in the prior year, the firm earned ($0.89) earnings per share. The company’s revenue for the quarter was down 27.8% compared to the same quarter last year. On average, equities research analysts anticipate that Green Plains Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GPRE shares. BMO Capital Markets decreased their price objective on Green Plains from $22.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Craig Hallum decreased their price objective on Green Plains from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. UBS Group reduced their price target on Green Plains from $26.00 to $23.50 and set a “buy” rating on the stock in a research report on Monday, August 19th. Oppenheimer lowered Green Plains from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Finally, Truist Financial reduced their price target on Green Plains from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Green Plains has a consensus rating of “Moderate Buy” and an average price target of $25.50.

About Green Plains

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.