BlackRock Fund Advisors recently announced the acquisition of new stake in Alto Ingredients Inc. (NASDAQ:ALTO). The institutional investor has increased its shareholding in the Basic Materials company by 2.04% to 5.07 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 6.75% valued currently at $14.81 million. In addition, The Vanguard Group, Inc. raised its holdings by 10569.0 to 3.71 million shares. And AQR Capital Management LLC has lifted its position by 231.78% or 1.21 million shares – to 1.73 million shares.
With over 4.72 million Alto Ingredients Inc. (ALTO) shares trading Friday and a closing price of $1.91 on the day, the dollar volume was approximately $9.02 million. The shares have shown a negative half year performance of -51.89% and its price on 03/10/23 lost nearly -32.51%. Currently, there are 73.01M common shares owned by the public and among those 70.47M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for ALTO have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $5.00. The average price target is 76.12% above its recent price level and an upside to the estimated low will see the stock gain 61.8% over that period. But an upside of 80.9% will see the stock hit the forecast high price target while median target price for the stock is $9.00.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 487,637 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 144,592 shares.
The top 3 mutual fund holders in Alto Ingredients Inc. are Vanguard Total Stock Market Index, Allspring Special Small Cap Value, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 2.55 million shares of the company’s stock, all valued at over $7.44 million. The company bought an additional 0.19 million shares recently to bring their total holdings to about 3.39% of the shares outstanding. Allspring Special Small Cap Value sold 53000.0 shares to see its total holdings shrink to 1.93 million shares valued at over $5.63 million and representing 2.57% of the shares outstanding. iShares Russell 2000 ETF sold 5886.0 shares to bring its total holdings to over 1.86 million shares at a value of $5.42 million. iShares Russell 2000 ETF now owns shares totaling to 2.47% of the shares outstanding.
Shares of Alto Ingredients Inc. (NASDAQ: ALTO) opened at $2.53, down -$0.3 from a prior closing price of $2.83. However, the script later moved the day high at 2.5620, down -32.51%. The company’s stock has a 5-day price change of -38.78% and -39.17% over the past three months. ALTO shares are trading -33.68% year to date (YTD), with the 12-month market performance down to -67.57% lower. It has a 12-month low price of $2.61 and touched a high of $7.37 over the same period. ALTO has an average intraday trading volume of 768.68K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -36.96%, -38.17%, and -49.57% respectively.
Institutional ownership of Alto Ingredients Inc. (NASDAQ: ALTO) shares accounts for 53.50% of the company’s 73.01M shares outstanding. Mutual fund holders own 28.67%, while other institutional holders and individual stakeholders account for 3.49% and 25.15% respectively.
It has a market capitalization of $212.70M and a beta (3y monthly) value of 2.48. The stock’s trailing 12-month PE ratio is 5.29, while the earnings-per-share (ttm) stands at $0.36. The company has a PEG of 0.26 and a Quick Ratio of 2.30 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.56% over the week and 6.63% over the month.
Analysts forecast that Alto Ingredients Inc. (ALTO) will achieve an EPS of -$0.06 for the current quarter, -$0.01 for the next quarter and $0.11 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was $0.43 a year ago. Earnings per share for the fiscal year are expected to increase by 319.00%, and 1334.78% over the next financial year. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 180.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Alto Ingredients Inc. (ALTO) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
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