HC Wainwright Reaffirms Buy Rating for Alto Ingredients (NASDAQ:ALTO)

Alto Ingredients (NASDAQ:ALTO)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $5.50 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 274.15% from the stock’s previous close.

Alto Ingredients Stock Up 2.1 %

ALTO stock opened at $1.47 on Thursday. The firm has a market cap of $112.67 million, a PE ratio of -2.83 and a beta of 1.73. Alto Ingredients has a 12 month low of $1.18 and a 12 month high of $2.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.22 and a quick ratio of 2.15. The firm has a 50 day simple moving average of $1.64 and a 200 day simple moving average of $1.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Alto Ingredients by 78.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,109 shares of the company’s stock valued at $28,000 after acquiring an additional 7,968 shares during the period. Two Sigma Securities LLC purchased a new position in Alto Ingredients during the fourth quarter valued at approximately $50,000. SBI Securities Co. Ltd. acquired a new position in Alto Ingredients in the 4th quarter valued at approximately $54,000. XTX Topco Ltd purchased a new stake in Alto Ingredients in the 4th quarter worth approximately $94,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Alto Ingredients by 137.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,788 shares of the company’s stock worth $95,000 after buying an additional 34,061 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Alto Ingredients Company Profile

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.