Pacific Ethanol Inc (NASDAQ:PEIX) has earned an average recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.50.
A number of brokerages have commented on PEIX. Zacks Investment Research raised Pacific Ethanol from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Wednesday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a report on Thursday, November 9th. Finally, B. Riley began coverage on Pacific Ethanol in a report on Tuesday, November 28th. They issued a “buy” rating and a $7.00 price objective on the stock.
Shares of Pacific Ethanol (NASDAQ:PEIX) traded up $0.10 during midday trading on Friday, reaching $4.25. The company’s stock had a trading volume of 340,980 shares, compared to its average volume of 307,303. The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.56. Pacific Ethanol has a 52-week low of $3.55 and a 52-week high of $9.35. The firm has a market cap of $186.88, a price-to-earnings ratio of -17.71, a price-to-earnings-growth ratio of 0.43 and a beta of 1.84.
In other Pacific Ethanol news, Director William L. Jones sold 20,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $4.30, for a total value of $86,000.00. Following the transaction, the director now directly owns 56,903 shares of the company’s stock, valued at approximately $244,682.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PEIX. Principal Financial Group Inc. acquired a new position in Pacific Ethanol in the 2nd quarter valued at $100,000. First Quadrant L P CA grew its holdings in shares of Pacific Ethanol by 496.8% during the 3rd quarter. First Quadrant L P CA now owns 18,935 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 15,762 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Pacific Ethanol by 21.9% during the 2nd quarter. Voya Investment Management LLC now owns 19,222 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 3,448 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Pacific Ethanol during the 4th quarter worth $126,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Pacific Ethanol during the 3rd quarter worth $185,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.
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About Pacific Ethanol
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.
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