Green Plains (NASDAQ:GPRE) Trading 5.6% Higher – Here’s Why

Green Plains, Inc. (NASDAQ:GPRE)’s stock price was up 5.6% on Wednesday . The stock traded as high as $16.34 and last traded at $16.69. Approximately 63,292 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,528,324 shares. The stock had previously closed at $15.80.

Analyst Ratings Changes

GPRE has been the subject of several research analyst reports. Wall Street Zen raised Green Plains from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Oppenheimer restated an “outperform” rating and issued a $20.00 price target on shares of Green Plains in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Plains in a research report on Tuesday, April 21st. Stephens upped their price objective on shares of Green Plains from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, BMO Capital Markets increased their price objective on shares of Green Plains from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Green Plains presently has an average rating of “Hold” and an average target price of $14.29.

Green Plains Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.27 and a current ratio of 1.71. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -50.39 and a beta of 1.19. The business has a fifty day simple moving average of $15.79 and a 200-day simple moving average of $14.44.

Green Plains (NASDAQ:GPRE) last released its quarterly earnings results on Thursday, May 7th. The specialty chemicals company reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.43. Green Plains had a positive return on equity of 2.86% and a negative net margin of 0.80%.The company had revenue of $445.80 million for the quarter, compared to analysts’ expectations of $532.53 million. During the same period in the previous year, the business posted ($1.14) earnings per share. The business’s quarterly revenue was down 25.9% compared to the same quarter last year. As a group, equities analysts forecast that Green Plains, Inc. will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Green Plains

Several large investors have recently modified their holdings of GPRE. WINTON GROUP Ltd acquired a new position in Green Plains during the 2nd quarter worth about $61,000. Quarry LP acquired a new stake in shares of Green Plains in the third quarter valued at about $67,000. Aquatic Capital Management LLC bought a new position in shares of Green Plains during the third quarter worth about $95,000. Marex Group plc bought a new position in shares of Green Plains during the fourth quarter worth about $98,000. Finally, Virtus Advisers LLC acquired a new position in shares of Green Plains in the fourth quarter worth approximately $98,000.

Green Plains Company Profile

Green Plains Inc is a leading producer of fuel-grade ethanol and related co-products in the United States. Headquartered in Omaha, Nebraska, the company operates an integrated network of biorefineries that convert corn and other grains into renewable fuels. Through its production facilities, Green Plains supplies ethanol to domestic fuel markets and export channels, supporting efforts to reduce greenhouse gas emissions and promote cleaner-burning transportation options.

Beyond ethanol, Green Plains manufactures a range of co-products that add value throughout the agricultural supply chain.