Roth Capital Lowers Pacific Ethanol (PEIX) to Neutral

Roth Capital cut shares of Pacific Ethanol (NASDAQ:PEIX) from a buy rating to a neutral rating in a research report sent to investors on Thursday, The Fly reports.

A number of other research analysts have also recently issued reports on the stock. ValuEngine raised shares of Pacific Ethanol from a sell rating to a hold rating in a report on Wednesday, January 2nd. Zacks Investment Research cut shares of Pacific Ethanol from a hold rating to a sell rating in a report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Pacific Ethanol has a consensus rating of Hold and a consensus target price of $5.33.

Shares of Pacific Ethanol stock opened at $1.14 on Thursday. Pacific Ethanol has a 12-month low of $0.76 and a 12-month high of $3.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.94 and a quick ratio of 1.39. The stock has a market capitalization of $52.12 million, a price-to-earnings ratio of -0.80 and a beta of 2.35.

Pacific Ethanol (NASDAQ:PEIX) last issued its earnings results on Tuesday, March 12th. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.41). Pacific Ethanol had a negative net margin of 4.00% and a negative return on equity of 16.73%. The company had revenue of $334.42 million during the quarter, compared to analysts’ expectations of $386.56 million. As a group, sell-side analysts predict that Pacific Ethanol will post -0.1 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in PEIX. California Public Employees Retirement System grew its position in shares of Pacific Ethanol by 32.2% in the fourth quarter. California Public Employees Retirement System now owns 189,775 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 46,240 shares during the last quarter. United Services Automobile Association grew its position in shares of Pacific Ethanol by 7.4% in the fourth quarter. United Services Automobile Association now owns 197,761 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 13,700 shares during the last quarter. Norges Bank acquired a new stake in shares of Pacific Ethanol in the fourth quarter valued at approximately $191,000. Geode Capital Management LLC grew its position in shares of Pacific Ethanol by 41.9% in the fourth quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock valued at $283,000 after purchasing an additional 97,240 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Pacific Ethanol by 109.7% in the fourth quarter. Acadian Asset Management LLC now owns 350,742 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 183,454 shares during the last quarter. Institutional investors and hedge funds own 52.18% of the company’s stock.

About Pacific Ethanol

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; specialty alcohols; and co-products, such as wet distillers grains, dry distillers grains with solubles, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.

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