Green Plains (NASDAQ:GPRE) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Green Plains, Inc. (NASDAQ:GPRE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.07 and traded as high as $16.77. Green Plains shares last traded at $16.44, with a volume of 975,472 shares trading hands.

Analyst Upgrades and Downgrades

GPRE has been the subject of several research analyst reports. Zacks Research lowered Green Plains from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen downgraded Green Plains from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. UBS Group increased their price target on shares of Green Plains from $12.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Green Plains in a report on Friday, July 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $20.00 target price on shares of Green Plains in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.43.

Green Plains Stock Down 0.6%

The stock has a market cap of $1.15 billion, a P/E ratio of -49.59 and a beta of 1.19. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $15.82 and a two-hundred day simple moving average of $15.12.

Green Plains (NASDAQ:GPRE) last issued its earnings results on Thursday, May 7th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.43. Green Plains had a negative net margin of 0.80% and a positive return on equity of 2.86%. The firm had revenue of $445.80 million for the quarter, compared to analysts’ expectations of $532.53 million. During the same quarter last year, the business earned ($1.14) earnings per share. The business’s revenue was down 25.9% on a year-over-year basis. On average, equities analysts forecast that Green Plains, Inc. will post 1.83 EPS for the current year.

Hedge Funds Weigh In On Green Plains

Several hedge funds and other institutional investors have recently modified their holdings of GPRE. AQR Capital Management LLC grew its stake in shares of Green Plains by 62.5% in the first quarter. AQR Capital Management LLC now owns 152,731 shares of the specialty chemicals company’s stock worth $741,000 after purchasing an additional 58,767 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Green Plains by 69.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 559,216 shares of the specialty chemicals company’s stock valued at $2,712,000 after purchasing an additional 229,353 shares during the period. Creative Planning raised its position in Green Plains by 6.9% during the 2nd quarter. Creative Planning now owns 42,977 shares of the specialty chemicals company’s stock valued at $259,000 after purchasing an additional 2,759 shares during the last quarter. Rhumbline Advisers raised its position in Green Plains by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 100,159 shares of the specialty chemicals company’s stock valued at $604,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Green Plains in the 2nd quarter worth approximately $297,000.

About Green Plains

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.