Alto Ingredients’ (ALTO) “Buy” Rating Reiterated at HC Wainwright

Alto Ingredients (NASDAQ:ALTO)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $5.50 price objective 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 %

Shares of Alto Ingredients stock opened at $1.47 on Thursday. The firm has a market cap of $112.67 million, a price-to-earnings ratio of -2.83 and a beta of 1.73. The stock has a 50-day simple moving average of $1.64 and a 200-day simple moving average of $1.58. Alto Ingredients has a 52-week low of $1.18 and a 52-week 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.

Institutional Trading of Alto Ingredients

Several large investors have recently added to or reduced their stakes in ALTO. JPMorgan Chase & Co. lifted its stake in shares of Alto Ingredients by 78.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,109 shares of the company’s stock valued at $28,000 after purchasing an additional 7,968 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Alto Ingredients during the fourth quarter worth $50,000. SBI Securities Co. Ltd. bought a new position in Alto Ingredients during the fourth quarter valued at about $54,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Alto Ingredients by 137.7% in the third 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 during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Alto Ingredients during the 4th quarter worth about $94,000. 42.44% of the stock is owned by institutional investors.

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.