Zacks Investment Research Upgrades Pacific Ethanol, Inc. (PEIX) to “Hold”

Pacific Ethanol, Inc. (NASDAQ:PEIX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday, October 17th.

According to Zacks, “Pacific Ethanol, Inc. is currently in the business of marketing ethanol in the Western United States through Kinergy Marketing, a wholly-owned subsidiary of the Company and the largest West Coast-based marketer of renewable fuels. The Company intends, in the near future, to construct an ethanol production facility at its Madera County, California, site. “

A number of other research firms also recently weighed in on PEIX. ValuEngine cut Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Pacific Ethanol in a research note on Wednesday, June 28th. Finally, Cowen and Company set a $13.00 price target on Pacific Ethanol and gave the stock a “buy” rating in a research note on Saturday, July 29th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Pacific Ethanol has a consensus rating of “Hold” and an average price target of $13.00.

Pacific Ethanol (NASDAQ:PEIX) traded down $0.08 during mid-day trading on Tuesday, reaching $4.50. The company’s stock had a trading volume of 261,247 shares, compared to its average volume of 328,574. The company has a quick ratio of 2.32, a current ratio of 3.25 and a debt-to-equity ratio of 0.50. Pacific Ethanol has a 1-year low of $4.15 and a 1-year high of $10.95.

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Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Pacific Ethanol by 29.4% in the first quarter. Vanguard Group Inc. now owns 1,540,132 shares of the oil and gas company’s stock valued at $10,551,000 after acquiring an additional 349,854 shares during the period. AJO LP bought a new position in Pacific Ethanol in the second quarter valued at about $1,806,000. Systematic Financial Management LP lifted its holdings in Pacific Ethanol by 21.8% in the second quarter. Systematic Financial Management LP now owns 263,340 shares of the oil and gas company’s stock valued at $1,646,000 after acquiring an additional 47,210 shares during the period. OppenheimerFunds Inc. lifted its holdings in Pacific Ethanol by 4.7% in the first quarter. OppenheimerFunds Inc. now owns 16,212 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 728 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Pacific Ethanol by 4.1% in the first quarter. HighTower Advisors LLC now owns 1,660,822 shares of the oil and gas company’s stock valued at $11,374,000 after acquiring an additional 65,685 shares during the period. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Ethanol Company Profile

Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.

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