Short Interest in Alto Ingredients, Inc. (NASDAQ:ALTO) Declines By 13.6%

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 766,300 shares, a decrease of 13.6% from the October 15th total of 886,700 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 659,300 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Alto Ingredients

A number of institutional investors and hedge funds have recently bought and sold shares of ALTO. Empowered Funds LLC raised its holdings 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 worth $390,000 after purchasing an additional 12,328 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Alto Ingredients by 5.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 370,852 shares of the company’s stock valued at $597,000 after acquiring an additional 19,104 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Alto Ingredients during the 1st quarter valued at $62,000. Virtu Financial LLC bought a new stake in shares of Alto Ingredients during the 1st quarter worth $68,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $95,000 after acquiring an additional 34,061 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Trading Down 0.7 %

Shares of NASDAQ:ALTO opened at $1.37 on Friday. The company has a 50 day moving average of $1.62 and a 200-day moving average of $1.55. The company has a current ratio of 3.22, a quick ratio of 2.09 and a debt-to-equity ratio of 0.32. The firm has a market cap of $104.79 million, a P/E ratio of -2.63 and a beta of 1.97. Alto Ingredients has a twelve month low of $1.18 and a twelve month high of $3.00.

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 analysts’ consensus estimates of $0.02 by ($0.06). Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. The firm had revenue of $251.81 million during the quarter, compared to analyst estimates of $274.94 million. During the same quarter last year, the company earned ($0.05) earnings per share. As a group, analysts anticipate that Alto Ingredients will post -0.37 earnings per share for the current fiscal year.

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.