Alto Ingredients (NASDAQ:ALTO) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Posted by William Tyler on Aug 7th, 2024

Alto Ingredients (NASDAQ:ALTO – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06, Yahoo Finance reports. Alto Ingredients had a negative net margin of 2.31% and a negative return on equity of 7.18%. The business had revenue of $236.47 million during the quarter, compared to the consensus estimate of $236.17 million. During the same period in the previous year, the business earned $0.10 earnings per share.

Alto Ingredients Stock Up 5.8 %

Shares of NASDAQ:ALTO traded up $0.08 during trading on Wednesday, reaching $1.46. 539,781 shares of the stock were exchanged, compared to its average volume of 551,340. The stock has a fifty day moving average of $1.47 and a two-hundred day moving average of $1.80. Alto Ingredients has a 1-year low of $1.28 and a 1-year high of $4.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.74 and a quick ratio of 1.97. The firm has a market cap of $110.52 million, a price-to-earnings ratio of -4.00 and a beta of 1.95.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 price objective on shares of Alto Ingredients in a research report on Wednesday.

Get Our Latest Stock Report on Alto Ingredients

About Alto Ingredients

(Get Free Report)

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.