Alto Ingredients (NASDAQ:ALTO) Announces Quarterly Earnings Results

Alto Ingredients (NASDAQ:ALTO) issued its earnings results on Monday. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01, Zacks reports. The company had revenue of $240.63 million during the quarter, compared to analysts’ expectations of $199.56 million. Alto Ingredients had a negative net margin of 2.29% and a negative return on equity of 7.32%. During the same period in the previous year, the company earned ($0.17) EPS.

Alto Ingredients Stock Performance

Alto Ingredients stock opened at $1.72 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.59 and a debt-to-equity ratio of 0.29. The stock has a market cap of $130.20 million, a PE ratio of -4.41 and a beta of 1.92. Alto Ingredients has a 12-month low of $1.53 and a 12-month high of $4.98. The business’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $2.36.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $5.50 price objective on shares of Alto Ingredients in a research report on Tuesday.

About Alto Ingredients

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.