Research Analysts Offer Predictions for Alto Ingredients, Inc.’s Q3 2024 Earnings (NASDAQ:ALTO)

Alto Ingredients, Inc. (NASDAQ:ALTO) – Equities researchers at HC Wainwright boosted their Q3 2024 earnings per share (EPS) estimates for Alto Ingredients in a research report issued to clients and investors on Tuesday, May 7th. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings per share of $0.01 for the quarter, up from their previous forecast of ($0.03). HC Wainwright currently has a “Buy” rating and a $5.50 target price on the stock. The consensus estimate for Alto Ingredients’ current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for Alto Ingredients’ FY2024 earnings at ($0.17) EPS.

Alto Ingredients Price Performance

ALTO opened at $1.72 on Thursday. Alto Ingredients has a 1 year low of $1.53 and a 1 year high of $4.98. The stock has a fifty day moving average price of $2.03 and a 200 day moving average price of $2.36. The stock has a market cap of $130.20 million, a price-to-earnings ratio of -4.41 and a beta of 1.92. The company has a current ratio of 2.59, a quick ratio of 1.78 and a debt-to-equity ratio of 0.29.

Alto Ingredients (NASDAQ:ALTO) last issued its earnings results on Monday, May 6th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $240.63 million during the quarter, compared to analysts’ expectations of $199.56 million. Alto Ingredients had a negative return on equity of 7.32% and a negative net margin of 2.29%. During the same quarter last year, the firm posted ($0.17) earnings per share.

Institutional Trading of Alto Ingredients

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Alto Ingredients in the first quarter worth about $62,000. Tower Research Capital LLC TRC lifted its position in shares of Alto Ingredients by 959.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 23,955 shares of the company’s stock worth $64,000 after buying an additional 21,693 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in shares of Alto Ingredients in the third quarter worth about $65,000. Brendel Financial Advisors LLC acquired a new stake in shares of Alto Ingredients in the fourth quarter worth about $71,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Alto Ingredients in the first quarter worth about $131,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Alto Ingredients Company Profile

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.