Alto Ingredients (NASDAQ:ALTO) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Alto Ingredients (NASDAQ:ALTO) announced its earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06), Zacks reports. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. The company had revenue of $251.81 million during the quarter, compared to analysts’ expectations of $274.94 million. During the same period in the prior year, the business earned ($0.05) earnings per share.

Alto Ingredients Price Performance

ALTO traded down $0.73 during midday trading on Thursday, hitting $1.21. The stock had a trading volume of 7,651,783 shares, compared to its average volume of 568,309. Alto Ingredients has a 1 year low of $1.18 and a 1 year high of $3.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 3.09. The business has a fifty day moving average of $1.63 and a 200 day moving average of $1.58. The company has a market cap of $92.55 million, a P/E ratio of -2.43 and a beta of 1.97.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $5.50 price objective on shares of Alto Ingredients in a research report on Wednesday, August 7th.

About Alto Ingredients

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.