Pacific Ethanol (PEIX) Stock Rating Lowered by ValuEngine

Pacific Ethanol (NASDAQ:PEIX) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Tuesday.

Several other equities analysts have also recently weighed in on the stock. HC Wainwright set a $14.00 target price on shares of Pacific Ethanol and gave the company a “buy” rating in a research note on Friday, March 2nd. B. Riley set a $7.00 target price on shares of Pacific Ethanol and gave the company a “buy” rating in a research note on Monday, March 5th. Finally, Zacks Investment Research cut shares of Pacific Ethanol from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $9.75.

NASDAQ:PEIX opened at $3.45 on Tuesday. Pacific Ethanol has a 1-year low of $2.75 and a 1-year high of $7.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.24 and a quick ratio of 1.56. The firm has a market capitalization of $145.07, a P/E ratio of -4.06 and a beta of 2.05.

Pacific Ethanol (NASDAQ:PEIX) last released its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.21). Pacific Ethanol had a negative net margin of 2.14% and a negative return on equity of 8.84%. The firm had revenue of $395.27 million during the quarter, compared to the consensus estimate of $418.84 million. During the same period in the prior year, the business posted $0.30 earnings per share. Pacific Ethanol’s quarterly revenue was down 10.5% compared to the same quarter last year. sell-side analysts anticipate that Pacific Ethanol will post -0.49 EPS for the current year.

In related news, Director Larry D. Layne acquired 10,000 shares of Pacific Ethanol stock in a transaction on Tuesday, March 6th. The stock was purchased at an average cost of $3.70 per share, with a total value of $37,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil M. Koehler acquired 30,000 shares of Pacific Ethanol stock in a transaction on Thursday, March 8th. The shares were bought at an average cost of $3.20 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 52,000 shares of company stock valued at $172,425. Company insiders own 3.87% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Pacific Ethanol during the fourth quarter worth $126,000. GSA Capital Partners LLP bought a new position in Pacific Ethanol during the third quarter worth $185,000. Chicago Equity Partners LLC bought a new position in Pacific Ethanol during the fourth quarter worth $321,000. New York State Common Retirement Fund boosted its position in Pacific Ethanol by 60.2% during the third quarter. New York State Common Retirement Fund now owns 79,654 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 29,928 shares during the period. Finally, Deutsche Bank AG boosted its position in Pacific Ethanol by 135.9% during the fourth quarter. Deutsche Bank AG now owns 98,097 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 56,512 shares during the period. 78.99% of the stock is owned by hedge funds and other institutional investors.

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About Pacific Ethanol

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; specialty alcohols; and co-products, such as wet distillers grains, dry distillers grains with solubles, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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