Green Plains Inc. (NASDAQ:GPRE) Short Interest Down 5.4% in October

Green Plains Inc. (NASDAQ:GPRE) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 6,150,000 shares, a decrease of 5.4% from the September 30th total of 6,500,000 shares. Based on an average daily volume of 940,900 shares, the days-to-cover ratio is presently 6.5 days.

Analyst Ratings Changes

Several research analysts recently issued reports on GPRE shares. Oppenheimer cut Green Plains from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. BMO Capital Markets cut their price objective on shares of Green Plains from $22.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. UBS Group lowered their target price on shares of Green Plains from $26.00 to $23.50 and set a “buy” rating for the company in a report on Monday, August 19th. Craig Hallum cut their price target on shares of Green Plains from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Truist Financial decreased their price objective on shares of Green Plains from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. One 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 stock has an average rating of “Moderate Buy” and an average target price of $25.50.

Green Plains Trading Up 5.1 %

Shares of GPRE stock opened at $12.23 on Friday. Green Plains has a 12-month low of $10.74 and a 12-month high of $31.92. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $12.86 and a 200-day moving average of $15.73. The firm has a market cap of $790.73 million, a P/E ratio of -16.99 and a beta of 1.52.

Green Plains (NASDAQ:GPRE) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.35). Green Plains had a negative return on equity of 4.94% and a negative net margin of 1.64%. The firm had revenue of $618.83 million during the quarter, compared to analysts’ expectations of $646.70 million. During the same period in the prior year, the business earned ($0.89) earnings per share. The business’s quarterly revenue was down 27.8% compared to the same quarter last year. Sell-side analysts anticipate that Green Plains will post -1.05 earnings per share for the current year.

Institutional Investors Weigh In On Green Plains

Several institutional investors have recently added to or reduced their stakes in GPRE. New York State Teachers Retirement System increased its stake in shares of Green Plains by 2.3% in the third quarter. New York State Teachers Retirement System now owns 62,254 shares of the specialty chemicals company’s stock worth $843,000 after purchasing an additional 1,400 shares in the last quarter. Everence Capital Management Inc. bought a new position in Green Plains in the 3rd quarter worth approximately $153,000. Inspire Advisors LLC purchased a new position in Green Plains in the 3rd quarter valued at approximately $185,000. nVerses Capital LLC bought a new stake in Green Plains during the 3rd quarter valued at $65,000. Finally, Inspire Investing LLC lifted its position in shares of Green Plains by 39.2% during the third quarter. Inspire Investing LLC now owns 33,087 shares of the specialty chemicals company’s stock worth $448,000 after acquiring an additional 9,325 shares in the last quarter.

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.