Pacific Ethanol (NASDAQ:PEIX) announced its earnings results on Thursday. The oil and gas company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.42), RTT News reports. Pacific Ethanol had a negative net margin of 4.27% and a negative return on equity of 18.75%. The firm had revenue of $365.16 million during the quarter, compared to analyst estimates of $359.26 million. During the same period in the previous year, the firm posted ($0.18) EPS.
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Shares of NASDAQ PEIX traded down $0.04 on Friday, reaching $0.56. 372,600 shares of the company traded hands, compared to its average volume of 399,476. The stock has a market capitalization of $28.74 million, a PE ratio of -0.39 and a beta of 1.71. Pacific Ethanol has a fifty-two week low of $0.50 and a fifty-two week high of $1.80. The company has a 50 day moving average of $0.58 and a 200 day moving average of $0.75. The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.45.
Separately, HC Wainwright cut their target price on shares of Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.
In related news, CEO Neil M. Koehler purchased 100,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average price of $0.57 per share, for a total transaction of $57,000.00. Following the acquisition, the chief executive officer now directly owns 932,985 shares in the company, valued at $531,801.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.48% of the stock is owned by corporate insiders.
About Pacific Ethanol
Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, 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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