Pacific Ethanol (PEIX) Sees Unusually-High Trading Volume

Shares of Pacific Ethanol Inc (NASDAQ:PEIX) saw an uptick in trading volume on Monday . 7,376,321 shares changed hands during mid-day trading, an increase of 1,397% from the previous session’s volume of 492,848 shares.The stock last traded at $2.69 and had previously closed at $1.88.

A number of research firms have commented on PEIX. HC Wainwright reaffirmed a “buy” rating on shares of Pacific Ethanol in a research report on Monday, July 16th. ValuEngine raised shares of Pacific Ethanol from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised shares of Pacific Ethanol from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Wednesday, July 11th. Finally, B. Riley set a $7.00 target price on shares of Pacific Ethanol and gave the stock a “buy” rating in a research report on Sunday, August 12th.

The company has a current ratio of 2.21, a quick ratio of 1.54 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $85.41 million, a P/E ratio of -2.21 and a beta of 1.87.

Pacific Ethanol (NASDAQ:PEIX) last posted its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.12). Pacific Ethanol had a negative return on equity of 9.12% and a negative net margin of 2.09%. The company had revenue of $410.52 million during the quarter, compared to the consensus estimate of $434.65 million. Equities analysts predict that Pacific Ethanol Inc will post -0.57 earnings per share for the current year.

Several hedge funds have recently modified their holdings of PEIX. Valeo Financial Advisors LLC grew its position in shares of Pacific Ethanol by 184.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 53,200 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 34,500 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Pacific Ethanol during the 2nd quarter valued at $154,000. LMR Partners LLP bought a new stake in shares of Pacific Ethanol during the 2nd quarter valued at $281,000. California Public Employees Retirement System grew its position in shares of Pacific Ethanol by 24.0% during the 1st quarter. California Public Employees Retirement System now owns 114,573 shares of the oil and gas company’s stock valued at $344,000 after acquiring an additional 22,179 shares during the period. Finally, United Services Automobile Association grew its position in shares of Pacific Ethanol by 65.6% during the 2nd quarter. United Services Automobile Association now owns 179,761 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 71,200 shares during the period. 64.94% of the stock is owned by hedge funds and other institutional investors.

Pacific Ethanol Company Profile (NASDAQ:PEIX)

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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