Aemetis (NASDAQ:AMTX) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of Aemetis, Inc (NASDAQ:AMTX) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.10 and traded as low as $1.74. Aemetis shares last traded at $1.83, with a volume of 711,376 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on AMTX. Ascendiant Capital Markets raised their target price on shares of Aemetis from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen raised shares of Aemetis from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Aemetis in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.88.

Aemetis Stock Performance

The company has a market cap of $145.06 million, a P/E ratio of -2.21 and a beta of 1.47. The business’s 50-day moving average price is $1.72 and its 200 day moving average price is $2.11.

Aemetis (NASDAQ:AMTX) last issued its earnings results on Thursday, August 6th. The specialty chemicals company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.16. The firm had revenue of $62.70 million during the quarter, compared to analyst estimates of $67.69 million. Equities research analysts forecast that Aemetis, Inc will post -0.89 earnings per share for the current year.

Institutional Investors Weigh In On Aemetis

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in Aemetis by 148.3% during the first quarter. Bank of America Corp DE now owns 101,486 shares of the specialty chemicals company’s stock worth $324,000 after purchasing an additional 60,611 shares during the period. Royal Bank of Canada raised its position in shares of Aemetis by 10,632.5% in the first quarter. Royal Bank of Canada now owns 8,908 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 8,825 shares during the period. Virtu Financial LLC bought a new position in shares of Aemetis in the fourth quarter valued at about $31,000. HRT Financial LP acquired a new stake in shares of Aemetis during the 4th quarter worth about $36,000. Finally, Centiva Capital LP acquired a new stake in shares of Aemetis during the 3rd quarter worth about $39,000. Institutional investors own 27.02% of the company’s stock.

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.