Alto Ingredients (NASDAQ:ALTO) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Alto Ingredients (NASDAQ:ALTO) announced its quarterly earnings data on Wednesday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06), Zacks reports. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. The business had revenue of $251.81 million for the quarter, compared to the consensus estimate of $274.94 million. During the same period in the prior year, the company earned ($0.05) EPS.

Alto Ingredients Stock Performance

ALTO stock traded down $0.73 during mid-day trading on Thursday, reaching $1.21. The company had a trading volume of 7,651,783 shares, compared to its average volume of 568,309. The company has a quick ratio of 2.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.34. Alto Ingredients has a one year low of $1.18 and a one year high of $3.00. The stock’s 50-day simple moving average is $1.63 and its two-hundred day simple moving average is $1.58. The stock has a market capitalization of $92.55 million, a P/E ratio of -2.43 and a beta of 1.97.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 target price on shares of Alto Ingredients in a report on Wednesday, August 7th.

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.