Insider Buying: Alto Ingredients (NASDAQ:ALTO) Director Acquires $39,300.00 in Stock

Alto Ingredients, Inc. (NASDAQ:ALTO) Director Gilbert Nathan bought 10,000 shares of the stock in a transaction on Monday, September 14th. The stock was purchased at an average cost of $3.93 per share, for a total transaction of $39,300.00. Following the acquisition, the director owned 866,393 shares of the company’s stock, valued at $3,404,924.49. This trade represents a 1.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Alto Ingredients Trading Down 1.7%

Alto Ingredients stock opened at $4.02 on Thursday. Alto Ingredients, Inc. has a 52-week low of $0.92 and a 52-week high of $6.11. The company has a market cap of $311.83 million, a P/E ratio of 6.00 and a beta of 0.16. The company has a quick ratio of 2.17, a current ratio of 3.19 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $4.51 and a two-hundred day simple moving average of $4.75.

Alto Ingredients (NASDAQ:ALTO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $245.70 million for the quarter, compared to analysts’ expectations of $231.24 million. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. Analysts predict that Alto Ingredients, Inc. will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Alto Ingredients

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Alto Ingredients in the 2nd quarter worth $31,322,000. Hillsdale Investment Management Inc. lifted its position in shares of Alto Ingredients by 590.1% in the first quarter. Hillsdale Investment Management Inc. now owns 1,000,703 shares of the company’s stock valued at $4,843,000 after acquiring an additional 855,703 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alto Ingredients in the second quarter worth about $4,878,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Alto Ingredients by 67.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,790,263 shares of the company’s stock worth $8,665,000 after acquiring an additional 723,996 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Alto Ingredients by 1,441.7% during the first quarter. Bank of America Corp DE now owns 550,294 shares of the company’s stock worth $2,663,000 after purchasing an additional 514,600 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALTO. HC Wainwright reissued a “buy” rating on shares of Alto Ingredients in a research report on Thursday, August 6th. Zacks Research cut Alto Ingredients from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Scotiabank set a $10.00 target price on Alto Ingredients in a research report on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Alto Ingredients in a report on Friday, July 31st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.00.

Alto Ingredients Company Profile

Alto Ingredients, Inc is a renewable fuels and specialty alcohols company that produces and markets low-carbon ethanol and related products. Its offerings are used as transportation fuel, fuel additives, industrial and beverage alcohol, and in other commercial applications.

The company also produces co-products from its ethanol manufacturing operations, including distillers grains used as animal feed and corn oil used in feed, fuel and industrial markets. Alto Ingredients has pursued opportunities to develop lower-carbon products and improve the value of its agricultural and renewable fuel operations.

Previously known as Pacific Ethanol, the company adopted the Alto Ingredients name in 2020 to reflect its broader focus beyond conventional ethanol production.