Pacific Ethanol (NASDAQ:PEIX) Shares Gap Up Following Analyst Upgrade

Pacific Ethanol Inc (NASDAQ:PEIX)’s share price gapped up before the market opened on Wednesday after HC Wainwright raised their price target on the stock from $3.00 to $16.00. The stock had previously closed at $4.80, but opened at $5.87. HC Wainwright currently has a buy rating on the stock. Pacific Ethanol shares last traded at $5.40, with a volume of 221,920 shares.

Separately, Zacks Investment Research lowered shares of Pacific Ethanol from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th.

In other Pacific Ethanol news, CEO Neil M. Koehler purchased 50,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $3.35 per share, with a total value of $167,500.00. Following the acquisition, the chief executive officer now owns 872,434 shares of the company’s stock, valued at $2,922,653.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert E. Nathan purchased 32,800 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $3.35 per share, with a total value of $109,880.00. Following the completion of the acquisition, the director now directly owns 156,591 shares in the company, valued at approximately $524,579.85. The disclosure for this purchase can be found here. Insiders purchased a total of 105,505 shares of company stock valued at $358,678 in the last quarter. 4.09% of the stock is currently owned by insiders.

The company has a quick ratio of 0.58, a current ratio of 0.90 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $345.91 million, a PE ratio of -3.72 and a beta of 3.94. The business’s 50 day simple moving average is $3.71 and its 200 day simple moving average is $1.32.

Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data on Tuesday, August 11th. The oil and gas company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.49. The company had revenue of $212.07 million during the quarter. Pacific Ethanol had a negative net margin of 6.30% and a negative return on equity of 21.49%. During the same period in the prior year, the company posted ($0.17) earnings per share.

Pacific Ethanol Company Profile (NASDAQ:PEIX)

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, 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.

Further Reading: Front-End Load

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