Victory Capital Management Inc. Cuts Stock Position in Green Plains Inc. (NASDAQ:GPRE)

Victory Capital Management Inc. cut its stake in Green Plains Inc. (NASDAQ:GPRE) by 36.7% in the second quarter, HoldingsChannel reports. The firm owned 12,794 shares of the specialty chemicals company’s stock after selling 7,428 shares during the quarter. Victory Capital Management Inc.’s holdings in Green Plains were worth $203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GPRE. Quest Partners LLC acquired a new position in shares of Green Plains during the fourth quarter worth $26,000. Crewe Advisors LLC acquired a new stake in shares of Green Plains during the first quarter worth $150,000. Equitable Trust Co. acquired a new position in shares of Green Plains during the second quarter worth about $191,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Green Plains by 11.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,917 shares of the specialty chemicals company’s stock valued at $221,000 after buying an additional 1,456 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Green Plains during the 4th quarter worth $234,000.

Analyst Ratings Changes

GPRE has been the topic of a number of research analyst reports. Oppenheimer downgraded Green Plains from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Craig Hallum dropped their price objective on shares of Green Plains from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets cut 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. Truist Financial restated a “buy” rating and set a $25.00 price objective (down previously from $30.00) on shares of Green Plains in a research note on Monday, August 5th. Finally, UBS Group decreased their price objective on shares of Green Plains from $26.00 to $23.50 and set a “buy” rating for the company in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Green Plains presently has an average rating of “Moderate Buy” and a consensus target price of $26.28.

Green Plains Price Performance

Shares of NASDAQ:GPRE opened at $13.48 on Wednesday. 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 firm has a 50-day simple moving average of $14.53 and a 200 day simple moving average of $17.48. Green Plains Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $31.92. The company has a market cap of $871.06 million, a PE ratio of -10.96 and a beta of 1.53.

Green Plains (NASDAQ:GPRE) last posted 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). The firm had revenue of $618.83 million for the quarter, compared to analyst estimates of $646.70 million. Green Plains had a negative net margin of 1.64% and a negative return on equity of 4.94%. The company’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.89) earnings per share. On average, sell-side analysts anticipate that Green Plains Inc. will post -0.95 EPS for the current year.

Green Plains Company 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.