Aemetis (NASDAQ:AMTX) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Aemetis (NASDAQ:AMTX) released its earnings results on Thursday. The specialty chemicals company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06), FiscalAI reports. The company had revenue of $54.62 million during the quarter, compared to analysts’ expectations of $66.70 million.

Here are the key takeaways from Aemetis’ conference call:

• Financial inflection point: Q1 revenue rose 27% YoY to $54.6M, the company returned to positive gross profit ($2.8M) and cut operating loss ~60%, signaling improved underlying margins across all segments.
• LCFS pathway approvals: CARB approved 7 new RNG pathways at an average CI of -380 (vs -150 default) with 6 more nearing approval, which materially increases LCFS credit generation per MMBtu and should boost revenue as production scales.
• Capital projects advancing: Dairy pretreatment skids delivered under a $27M contract and the $40M MVR project at Keyes is under construction with major equipment on-site; management expects MVR commissioning later this year to displace ~80% of plant natural gas and add roughly $32M of annual cash flow.
• India operations & IPO plan: Q1 India biodiesel revenue rebounded to $10.5M, management has retained advisors for an IPO of Universal Biofuels and expects improved, cost?plus contract pricing and higher utilization to support the offering and expansion funding.
• Financing and 45Z dependency: Large projects (notably the 80M gallon RD/SAF facility) have permits and market interest but financing timing and final economics hinge on the DOE publishing the updated 45Z CF?GREET calculator and securing long?term financing, creating near?term uncertainty.

Aemetis Price Performance

Aemetis stock traded down $0.12 during midday trading on Thursday, reaching $3.12. The company had a trading volume of 3,111,094 shares, compared to its average volume of 1,790,618. The company has a market capitalization of $212.63 million, a P/E ratio of -2.35 and a beta of 1.46. Aemetis has a 12-month low of $1.22 and a 12-month high of $3.80. The firm’s fifty day simple moving average is $2.49 and its 200-day simple moving average is $1.98.

Wall Street Analyst Weigh In

AMTX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aemetis in a report on Monday, April 20th. Ascendiant Capital Markets upped their price target on shares of Aemetis from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Wall Street Zen raised shares of Aemetis from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Loop Capital set a $1.75 price target on shares of Aemetis in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMTX. Goldman Sachs Group Inc. lifted its stake in Aemetis by 71.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 218,404 shares of the specialty chemicals company’s stock valued at $380,000 after buying an additional 91,367 shares in the last quarter. Creative Planning purchased a new position in Aemetis in the 2nd quarter valued at about $30,000. Russell Investments Group Ltd. lifted its stake in Aemetis by 412.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 80,754 shares of the specialty chemicals company’s stock valued at $200,000 after buying an additional 65,010 shares in the last quarter. Jump Financial LLC purchased a new position in Aemetis in the 2nd quarter valued at about $64,000. Finally, Qube Research & Technologies Ltd purchased a new position in Aemetis in the 2nd quarter valued at about $246,000. 27.02% of the stock is owned by hedge funds and other 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.