Pacific Ethanol, Inc. (NASDAQ:PEIX) – Equities researchers at Roth Capital lifted their FY2016 earnings per share (EPS) estimates for shares of Pacific Ethanol in a report issued on Monday. Roth Capital analyst C. Irwin now expects that the brokerage will earn ($0.10) per share for the year, up from their prior forecast of ($0.16). Roth Capital currently has a “Buy” rating and a $12.00 price objective on the stock.
Several other research firms have also recently issued reports on PEIX. Zacks Investment Research cut shares of Pacific Ethanol from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. TheStreet upgraded shares of Pacific Ethanol from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Pacific Ethanol currently has a consensus rating of “Buy” and a consensus price target of $11.33.
Pacific Ethanol (NASDAQ:PEIX) opened at 7.25 on Wednesday. The firm has a 50 day moving average of $8.36 and a 200-day moving average of $7.52. Pacific Ethanol has a 52 week low of $2.87 and a 52 week high of $10.95. The stock’s market capitalization is $313.01 million.
Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Pacific Ethanol by 26.1% in the third quarter. Wells Fargo & Company MN now owns 280,335 shares of the company’s stock worth $1,938,000 after buying an additional 57,976 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Pacific Ethanol by 96.1% in the second quarter. Bank of New York Mellon Corp now owns 267,363 shares of the company’s stock worth $1,458,000 after buying an additional 131,028 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Pacific Ethanol by 848.9% in the third quarter. DnB Asset Management AS now owns 1,090,448 shares of the company’s stock worth $7,535,000 after buying an additional 975,536 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in shares of Pacific Ethanol during the third quarter worth about $153,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Pacific Ethanol during the second quarter worth about $1,365,000. 67.38% of the stock is owned by institutional investors and hedge funds.
In other news, VP Christopher W. Wright sold 6,426 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $9.60, for a total transaction of $61,689.60. Following the completion of the sale, the vice president now owns 60,816 shares of the company’s stock, valued at $583,833.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Candlewood Investment Group, L sold 2,977,000 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $9.37, for a total transaction of $27,894,490.00. The disclosure for this sale can be found here. Insiders have sold 2,993,426 shares of company stock valued at $28,053,280 over the last 90 days. 3.10% of the stock is currently owned by company insiders.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.