First Trust Advisors LP lowered its position in Pacific Ethanol Inc. (NASDAQ:PEIX) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 38,593 shares of the company’s stock after selling 161 shares during the period. First Trust Advisors LP owned 0.09% of Pacific Ethanol worth $210,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. EAM Investors LLC acquired a new stake in shares of Pacific Ethanol during the second quarter worth approximately $2,562,000. DIAM Co. Ltd. boosted its stake in shares of Pacific Ethanol by 56.5% in the second quarter. DIAM Co. Ltd. now owns 106,700 shares of the company’s stock worth $582,000 after buying an additional 38,500 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Pacific Ethanol during the second quarter worth approximately $3,654,000. Investors Capital Advisory Services boosted its stake in shares of Pacific Ethanol by 6.0% in the second quarter. Investors Capital Advisory Services now owns 52,327 shares of the company’s stock worth $285,000 after buying an additional 2,950 shares during the period. Finally, Bank of New York Mellon Corp boosted 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 during the period. Institutional investors own 73.66% of the company’s stock.
Shares of Pacific Ethanol Inc. (NASDAQ:PEIX) remained flat at $7.25 during midday trading on Tuesday. 20,877 shares of the stock traded hands. The company’s market cap is $312.89 million. Pacific Ethanol Inc. has a 12 month low of $2.41 and a 12 month high of $7.50. The firm has a 50-day moving average of $6.73 and a 200-day moving average of $5.81.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.14. The firm earned $422.90 million during the quarter, compared to analysts’ expectations of $383.29 million. Pacific Ethanol had a negative return on equity of 4.18% and a negative net margin of 1.55%. Pacific Ethanol’s quarterly revenue was up 85.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. On average, equities research analysts predict that Pacific Ethanol Inc. will post $0.04 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the stock. Roth Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Pacific Ethanol in a research report on Monday, August 1st. Zacks Investment Research upgraded shares of Pacific Ethanol from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Thursday, September 29th. Five equities research analysts have rated the stock with a buy rating, Pacific Ethanol currently has a consensus rating of “Buy” and an average target price of $9.13.
In other Pacific Ethanol news, Director John L. Prince sold 17,745 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $6.64, for a total value of $117,826.80. Following the transaction, the director now directly owns 28,801 shares of the company’s stock, valued at approximately $191,238.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William L. Jones sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $6.75, for a total value of $101,250.00. Following the completion of the transaction, the director now directly owns 53,624 shares in the company, valued at $361,962. The disclosure for this sale can be found here. 3.10% of the stock is 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.
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