The stock of Pacific Ethanol Inc (NASDAQ:PEIX) hit a new 52-week high and has $10.88 target or 46.00% above today’s $7.45 share price. The 9 months bullish chart indicates low risk for the $297.13M company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $10.88 price target is reached, the company will be worth $136.68 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 218,911 shares traded hands. Pacific Ethanol Inc (NASDAQ:PEIX) has risen 60.26% since March 31, 2016 and is uptrending. It has outperformed by 57.73% the S&P500.
Pacific Ethanol Inc (NASDAQ:PEIX) Ratings Coverage
Out of 3 analysts covering Pacific Ethanol (NASDAQ:PEIX), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Pacific Ethanol has been the topic of 5 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The rating was maintained by Roth Capital on Monday, March 14 with “Buy”. The stock has “Buy” rating given by Rodman & Reshaw on Tuesday, May 24.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 0.78 in Q2 2016. Its up 0.07, from 0.71 in 2016Q1. The ratio improved, as 13 funds sold all Pacific Ethanol Inc shares owned while 28 reduced positions. 10 funds bought stakes while 22 increased positions. They now own 28.35 million shares or 1.70% less from 28.84 million shares in 2016Q1.
Foundry Prtn Ltd Co has 0.12% invested in the company for 401,575 shares. Geode Capital Management has 0% invested in the company for 161,119 shares. Quantitative Invest Management Limited Liability Corp has 19,800 shares for 0% of their US portfolio. Bnp Paribas Arbitrage owns 2,292 shares or 0% of their US portfolio. Rhumbline Advisers last reported 35,095 shares in the company. Natl Bank Of New York Mellon Corporation, a New York-based fund reported 267,363 shares. Natl Bank Of Montreal Can, a Ontario – Canada-based fund reported 3,502 shares. Diam Co Limited last reported 0.01% of its portfolio in the stock. Parametric Associates Lc has invested 0% of its portfolio in Pacific Ethanol Inc (NASDAQ:PEIX). Voya Inv Mgmt Llc holds 0% or 15,774 shares in its portfolio. Moreover, Dnb Asset Management As has 0% invested in Pacific Ethanol Inc (NASDAQ:PEIX) for 114,912 shares. First Tru Advsr Limited Partnership reported 38,593 shares or 0% of all its holdings. California Employees Retirement System, a California-based fund reported 92,394 shares. Rr Advisors Ltd Llc last reported 0.25% of its portfolio in the stock. Fuller And Thaler Asset last reported 0.03% of its portfolio in the stock.
Insider Transactions: Since June 9, 2016, the stock had 0 insider buys, and 3 sales for $404,127 net activity. $117,827 worth of shares were sold by Prince John L on Friday, August 12. On Thursday, June 9 Wright Christopher W sold $185,995 worth of the stock or 31,000 shares. Jones William L sold 15,000 shares worth $100,305.
More news for Pacific Ethanol Inc (NASDAQ:PEIX) were recently published by: Bizjournals.com, which released: “Pacific Ethanol’s second-quarter profit rises as sales almost double” on July 27, 2016. Bizjournals.com‘s article titled: “Feds approve high-value fuel from Pacific Ethanol’s Stockton plant” and published on September 13, 2016 is yet another important article.
PEIX Company Profile
Pacific Ethanol, Inc., incorporated on February 28, 2005, is a producer and marketer of low-carbon renewable fuels in the United States. The Company’s divisions include a production segment and a marketing segment. The Firm owns and operates over eight ethanol production facilities. Approximately four of its plants are in the Western states of California, Oregon and Idaho, or the Pacific Ethanol West plants, and over four of its plants are located in the Midwestern states of Illinois and Nebraska, or the Pacific Ethanol Central plants. The Company’s plants have a combined ethanol production capacity of over 515 million gallons per year.
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