Aemetis (NASDAQ:AMTX) Shares Pass Below 200 Day Moving Average – Here’s Why

Aemetis, Inc (NASDAQ:AMTX) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.05 and traded as low as $1.55. Aemetis shares last traded at $1.56, with a volume of 710,859 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Ascendiant Capital Markets upped their price target on shares of Aemetis from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aemetis in a research report on Monday, April 20th. Finally, Wall Street Zen cut shares of Aemetis from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.88.

Aemetis Trading Down 4.3%

The company has a market capitalization of $109.78 million, a P/E ratio of -1.31 and a beta of 1.44. The firm’s 50 day moving average price is $2.05 and its two-hundred day moving average price is $2.05.

Aemetis (NASDAQ:AMTX) last announced its quarterly earnings data on Thursday, May 7th. The specialty chemicals company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The firm had revenue of $54.62 million for the quarter, compared to analyst estimates of $66.70 million. Analysts anticipate that Aemetis, Inc will post -1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aemetis

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMTX. Royal Bank of Canada boosted its stake in shares of Aemetis by 10,632.5% during the 1st quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 8,825 shares during the last quarter. Creative Planning bought a new stake in Aemetis during the second quarter worth about $30,000. Virtu Financial LLC bought a new stake in Aemetis during the fourth quarter worth about $31,000. Sanctuary Advisors LLC acquired a new position in Aemetis during the first quarter valued at approximately $33,000. Finally, HRT Financial LP acquired a new position in Aemetis during the fourth quarter valued at approximately $36,000. 27.02% of the stock is owned by institutional investors.

Aemetis Company Profile

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.