Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Large Decrease in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 729,600 shares, a decline of 25.0% from the November 15th total of 973,400 shares. Based on an average trading volume of 770,500 shares, the short-interest ratio is presently 0.9 days. Currently, 1.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Alto Ingredients

Several hedge funds have recently modified their holdings of ALTO. Panagora Asset Management Inc. acquired a new stake in Alto Ingredients in the second quarter valued at $400,000. Renaissance Technologies LLC grew its holdings in shares of Alto Ingredients by 53.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock worth $2,423,000 after acquiring an additional 583,967 shares during the period. Marshall Wace LLP acquired a new position in Alto Ingredients during the second quarter worth $202,000. The Manufacturers Life Insurance Company boosted its position in Alto Ingredients by 48.3% during the second quarter. The Manufacturers Life Insurance Company now owns 351,748 shares of the company’s stock worth $508,000 after purchasing an additional 114,571 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in Alto Ingredients by 9.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,125,552 shares of the company’s stock valued at $1,812,000 after purchasing an additional 93,054 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Stock Performance

Shares of NASDAQ ALTO traded down $0.02 during trading on Friday, reaching $1.46. 417,083 shares of the company traded hands, compared to its average volume of 602,075. The stock has a market cap of $111.90 million, a P/E ratio of -2.81 and a beta of 1.91. Alto Ingredients has a 12-month low of $1.18 and a 12-month high of $3.00. The firm’s fifty day simple moving average is $1.57 and its 200 day simple moving average is $1.51. The company has a current ratio of 3.22, a quick ratio of 2.15 and a debt-to-equity ratio of 0.32.

Alto Ingredients (NASDAQ:ALTO) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The company had revenue of $251.81 million during the quarter, compared to analyst estimates of $274.94 million. Alto Ingredients had a negative return on equity of 11.22% and a negative net margin of 3.61%. During the same period last year, the business earned ($0.05) earnings per share. As a group, research analysts anticipate that Alto Ingredients will post -0.37 earnings per share for the current fiscal year.

Alto Ingredients Company Profile

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.