What is HC Wainwright’s Estimate for ALTO FY2024 Earnings?

Alto Ingredients, Inc. (NASDAQ:ALTO) – Stock analysts at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for Alto Ingredients in a research report issued on Thursday, November 7th. HC Wainwright analyst A. Dayal now forecasts that the company will earn ($0.37) per share for the year, down from their previous forecast of ($0.04). HC Wainwright has a “Buy” rating and a $5.50 price objective on the stock. The consensus estimate for Alto Ingredients’ current full-year earnings is ($0.37) per share. HC Wainwright also issued estimates for Alto Ingredients’ Q4 2024 earnings at ($0.12) EPS.

Alto Ingredients Stock Up 3.8 %

NASDAQ ALTO opened at $1.35 on Monday. The business has a fifty day moving average price of $1.63 and a two-hundred day moving average price of $1.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.09 and a quick ratio of 2.09. Alto Ingredients has a fifty-two week low of $1.18 and a fifty-two week high of $3.00. The stock has a market capitalization of $103.26 million, a PE ratio of -2.60 and a beta of 1.97.

Alto Ingredients (NASDAQ:ALTO) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Alto Ingredients had a negative return on equity of 11.15% and a negative net margin of 3.61%. The business had revenue of $251.81 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Alto Ingredients by 137.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,788 shares of the company’s stock valued at $95,000 after acquiring an additional 34,061 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Alto Ingredients by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 241,977 shares of the company’s stock valued at $390,000 after acquiring an additional 12,328 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Alto Ingredients by 100.5% in the 3rd quarter. GSA Capital Partners LLP now owns 247,676 shares of the company’s stock valued at $399,000 after acquiring an additional 124,163 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Alto Ingredients by 9.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,125,552 shares of the company’s stock valued at $1,812,000 after acquiring an additional 93,054 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Alto Ingredients by 48.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 351,748 shares of the company’s stock valued at $508,000 after acquiring an additional 114,571 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

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.