Green Plains (NASDAQ:GPRE) Stock Price Down 6.7% – Here’s What Happened

Green Plains, Inc. (NASDAQ:GPRE)’s stock price was down 6.7% during trading on Tuesday . The stock traded as low as $10.70 and last traded at $10.8510. Approximately 539,691 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 1,206,439 shares. The stock had previously closed at $11.63.

Analyst Ratings Changes

GPRE has been the subject of several analyst reports. Tudor, Pickering, Holt & Co. raised Green Plains from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Monday, October 6th. Oppenheimer set a $15.00 price target on Green Plains and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Plains in a report on Wednesday, October 8th. Roth Capital cut shares of Green Plains from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Green Plains from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Green Plains presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Green Plains Stock Performance

The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average is $10.08 and its 200 day moving average is $9.59. The company has a market cap of $777.96 million, a PE ratio of -3.82, a price-to-earnings-growth ratio of 1.33 and a beta of 1.44.

Green Plains (NASDAQ:GPRE) last announced its earnings results on Wednesday, November 5th. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.48. The business had revenue of $508.49 million for the quarter, compared to analyst estimates of $583.55 million. Green Plains had a negative net margin of 8.37% and a negative return on equity of 16.78%. The company’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. As a group, research analysts predict that Green Plains, Inc. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Green Plains

Hedge funds have recently made changes to their positions in the company. Clifford Capital Partners LLC grew its holdings in shares of Green Plains by 201.2% in the second quarter. Clifford Capital Partners LLC now owns 1,386,961 shares of the specialty chemicals company’s stock valued at $8,363,000 after purchasing an additional 926,553 shares during the period. Jefferies Financial Group Inc. purchased a new position in Green Plains during the second quarter worth about $197,000. Envestnet Asset Management Inc. boosted its holdings in Green Plains by 112.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,720 shares of the specialty chemicals company’s stock valued at $517,000 after purchasing an additional 45,397 shares during the last quarter. CenterBook Partners LP grew its stake in shares of Green Plains by 76.3% in the 2nd quarter. CenterBook Partners LP now owns 1,165,273 shares of the specialty chemicals company’s stock valued at $7,027,000 after buying an additional 504,433 shares during the period. Finally, AXQ Capital LP acquired a new stake in shares of Green Plains during the 2nd quarter worth approximately $314,000.

About Green Plains

Green Plains Inc is a leading producer of fuel-grade ethanol and related co-products in the United States. Headquartered in Omaha, Nebraska, the company operates an integrated network of biorefineries that convert corn and other grains into renewable fuels. Through its production facilities, Green Plains supplies ethanol to domestic fuel markets and export channels, supporting efforts to reduce greenhouse gas emissions and promote cleaner-burning transportation options.

Beyond ethanol, Green Plains manufactures a range of co-products that add value throughout the agricultural supply chain.