Renaissance Technologies LLC Acquires 149,657 Shares of Alto Ingredients, Inc. $ALTO

Renaissance Technologies LLC boosted its holdings in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,673,657 shares of the company’s stock after buying an additional 149,657 shares during the period. Renaissance Technologies LLC owned approximately 2.17% of Alto Ingredients worth $8,100,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new stake in shares of Alto Ingredients during the fourth quarter worth about $33,000. Leonteq Securities AG bought a new position in Alto Ingredients in the 4th quarter valued at about $44,000. CreativeOne Wealth LLC acquired a new position in Alto Ingredients during the 4th quarter valued at about $46,000. Bank of New York Mellon Corp acquired a new position in Alto Ingredients during the 1st quarter valued at about $49,000. Finally, Virtu Financial LLC bought a new stake in Alto Ingredients during the 3rd quarter worth approximately $52,000. 42.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gilbert E. Nathan bought 20,000 shares of Alto Ingredients stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $4.61 per share, with a total value of $92,200.00. Following the transaction, the director directly owned 769,741 shares of the company’s stock, valued at approximately $3,548,506.01. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.28% of the stock is currently owned by insiders.

Alto Ingredients Stock Up 2.1%

ALTO stock opened at $4.86 on Tuesday. The stock has a market cap of $376.60 million, a P/E ratio of 13.14 and a beta of 0.17. The company has a current ratio of 3.81, a quick ratio of 2.54 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $5.30 and its two-hundred day simple moving average is $4.40. Alto Ingredients, Inc. has a 1-year low of $0.92 and a 1-year high of $6.11.

Alto Ingredients (NASDAQ:ALTO) last announced its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.13. The firm had revenue of $224.68 million during the quarter, compared to analyst estimates of $215.65 million. Alto Ingredients had a return on equity of 9.77% and a net margin of 3.20%. Analysts expect that Alto Ingredients, Inc. will post 0.54 EPS for the current year.

Analyst Ratings Changes

ALTO has been the topic of several analyst reports. Zacks Research cut Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Alto Ingredients in a research note on Friday. Finally, HC Wainwright lifted their price objective on shares of Alto Ingredients from $5.50 to $10.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.00.

Alto Ingredients Profile

Alto Ingredients, Inc (NASDAQ: ALTO) is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.