Alto Ingredients, Inc. (NASDAQ:ALTO) Sees Large Decrease in Short Interest

Alto Ingredients, Inc. (NASDAQ:ALTO) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,040,000 shares, a drop of 20.6% from the March 31st total of 1,310,000 shares. Based on an average daily volume of 580,200 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.5% of the company’s stock are short sold.

Alto Ingredients Price Performance

NASDAQ:ALTO traded up $0.05 during midday trading on Friday, hitting $1.94. 295,826 shares of the company were exchanged, compared to its average volume of 406,673. Alto Ingredients has a fifty-two week low of $1.20 and a fifty-two week high of $4.98. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.59 and a quick ratio of 1.78. The company has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $2.50.

Alto Ingredients (NASDAQ:ALTO) last announced its earnings results on Monday, March 11th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.14). The business had revenue of $273.63 million during the quarter, compared to analysts’ expectations of $301.92 million. Alto Ingredients had a negative net margin of 2.29% and a negative return on equity of 7.32%. Research analysts expect that Alto Ingredients will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lodestone Wealth Management LLC acquired a new position in shares of Alto Ingredients during the 3rd quarter worth $5,304,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alto Ingredients by 19.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,494,032 shares of the company’s stock valued at $6,634,000 after purchasing an additional 413,116 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Alto Ingredients in the fourth quarter valued at approximately $560,000. Acadian Asset Management LLC purchased a new position in shares of Alto Ingredients during the 3rd quarter worth approximately $618,000. Finally, Algert Global LLC acquired a new position in shares of Alto Ingredients during the 3rd quarter worth approximately $412,000. 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.