Aemetis (NASDAQ:AMTX) Shares Cross Below 200-Day Moving Average – What’s Next?

Aemetis, Inc (NASDAQ:AMTX)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.05 and traded as low as $1.7324. Aemetis shares last traded at $1.76, with a volume of 811,703 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aemetis in a report on Monday, April 20th. Ascendiant Capital Markets increased their price target on shares of Aemetis from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Aemetis from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Loop Capital set a $1.75 target price on Aemetis in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.88.

Aemetis Stock Down 0.6%

The stock’s fifty day simple moving average is $2.23 and its 200-day simple moving average is $2.05. The company has a market capitalization of $123.85 million, a PE ratio of -1.48 and a beta of 1.44.

Aemetis (NASDAQ:AMTX) last released its quarterly earnings results on Thursday, May 7th. The specialty chemicals company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The firm had revenue of $54.62 million during the quarter, compared to analyst estimates of $66.70 million. Analysts expect that Aemetis, Inc will post -1.11 EPS for the current year.

Institutional Investors Weigh In On Aemetis

Several hedge funds have recently modified their holdings of AMTX. Royal Bank of Canada grew its holdings in shares of Aemetis by 10,632.5% during the first quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 8,825 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Aemetis during the first quarter valued at approximately $33,000. Creative Planning acquired a new stake in Aemetis during the second quarter worth approximately $30,000. Prairiewood Capital LLC purchased a new stake in Aemetis in the 1st quarter worth approximately $47,000. Finally, Bank of America Corp DE grew its stake in Aemetis by 62.6% in the 3rd quarter. Bank of America Corp DE now owns 38,526 shares of the specialty chemicals company’s stock worth $87,000 after acquiring an additional 14,836 shares during the period. 27.02% of the stock is owned by institutional investors and hedge funds.

Aemetis Company Profile

Aemetis, Inc, headquartered in Cupertino, California, is a renewable fuels and renewable natural gas producer dedicated to decarbonizing the transportation sector. The company operates two primary business segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel and sustainable aviation fuel using patented carbon capture and separation technology; and Aemetis RNG, which develops dairy-based renewable natural gas projects in California for pipeline injection and transportation use.

Since its incorporation in 2006, Aemetis has expanded its production footprint through organic growth and strategic acquisitions.