Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Significant Increase in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 1,150,000 shares, a growth of 26.5% from the July 31st total of 909,400 shares. Based on an average trading volume of 427,600 shares, the short-interest ratio is presently 2.7 days. Currently, 1.6% of the company’s stock are sold short.

Alto Ingredients Price Performance

ALTO stock opened at $1.38 on Friday. Alto Ingredients has a 1-year low of $1.28 and a 1-year high of $4.98. The business’s 50 day simple moving average is $1.47 and its 200 day simple moving average is $1.74. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $104.46 million, a PE ratio of -3.63 and a beta of 1.95.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. Alto Ingredients had a negative return on equity of 7.18% and a negative net margin of 2.31%. The company had revenue of $236.47 million for the quarter, compared to analysts’ expectations of $236.17 million. During the same quarter last year, the business earned $0.10 earnings per share. As a group, research analysts anticipate that Alto Ingredients will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $5.50 price objective on shares of Alto Ingredients in a research report on Wednesday, August 7th.

Institutional Investors Weigh In On Alto Ingredients

Several hedge funds have recently modified their holdings of ALTO. SG Americas Securities LLC bought a new stake in shares of Alto Ingredients in the 1st quarter valued at about $62,000. Virtu Financial LLC acquired a new position in Alto Ingredients during the 1st quarter valued at about $68,000. Aigen Investment Management LP purchased a new stake in Alto Ingredients in the 4th quarter valued at $135,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Alto Ingredients in the first quarter valued at about $131,000. Finally, Empowered Funds LLC purchased a new position in shares of Alto Ingredients in the 1st quarter worth approximately $286,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

About Alto Ingredients

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.