Pacific Ethanol Inc (NASDAQ:PEIX) major shareholder Candlewood Investment Group, L sold 1,420,251 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $6.70, for a total transaction of $9,515,681.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Pacific Ethanol Inc (NASDAQ:PEIX) opened at 7.10 on Tuesday. The firm’s 50-day moving average is $7.38 and its 200 day moving average is $7.68. The firm has a market capitalization of $307.52 million, a P/E ratio of 1775.00 and a beta of 2.14. Pacific Ethanol Inc has a 12 month low of $3.67 and a 12 month high of $10.95.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings data on Wednesday, March 1st. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. Pacific Ethanol had a negative net margin of 0.80% and a negative return on equity of 3.12%. The firm had revenue of $441.72 million for the quarter, compared to analyst estimates of $421.58 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts anticipate that Pacific Ethanol Inc will post $0.45 EPS for the current year.
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PEIX has been the subject of several research reports. Zacks Investment Research upgraded shares of Pacific Ethanol from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, January 4th. Roth Capital set a $12.00 price objective on shares of Pacific Ethanol and gave the stock a “buy” rating in a research report on Monday, February 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $11.33.
Large investors have recently bought and sold shares of the company. Numeric Investors LLC acquired a new stake in Pacific Ethanol during the fourth quarter valued at approximately $656,000. Boothbay Fund Management LLC acquired a new stake in Pacific Ethanol during the fourth quarter valued at approximately $120,000. Metropolitan Life Insurance Co. NY increased its stake in Pacific Ethanol by 11.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,291 shares of the company’s stock valued at $240,000 after buying an additional 2,633 shares during the last quarter. Ellington Management Group LLC acquired a new stake in Pacific Ethanol during the fourth quarter valued at approximately $304,000. Finally, Tudor Investment Corp Et Al acquired a new stake in Pacific Ethanol during the fourth quarter valued at approximately $411,000. 67.52% of the stock is owned by institutional investors.
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.
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