Market Runner: Could Pacific Ethanol Inc Go Down After Making 52-Week High?

Market Runner: Could Pacific Ethanol Inc Go Down After Making 52 Week High?

The stock of Pacific Ethanol Inc (NASDAQ:PEIX) hit a new 52-week high and has $9.06 target or 3.00% above today’s $8.80 share price. The 7 months bullish chart indicates low risk for the $382.18M company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $9.06 price target is reached, the company will be worth $11.47 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 186,694 shares traded hands. Pacific Ethanol Inc (NASDAQ:PEIX) has risen 66.67% since April 27, 2016 and is uptrending. It has outperformed by 61.44% the S&P500.

Analysts await Pacific Ethanol Inc (NASDAQ:PEIX) to report earnings on March, 8. They expect $0.16 EPS, up 700.00% or $0.14 from last year’s $0.02 per share. PEIX’s profit will be $6.95 million for 13.75 P/E if the $0.16 EPS becomes a reality. After $-0.09 actual EPS reported by Pacific Ethanol Inc for the previous quarter, Wall Street now forecasts -277.78% EPS growth.

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. $12 is the highest target while $7.50 is the lowest. The $9.17 average target is 4.20% above today’s ($8.8) stock price. Pacific Ethanol has been the topic of 5 analyst reports since October 8, 2015 according to StockzIntelligence Inc. Rodman & Reshaw initiated it with “Buy” rating and $11 target price in Tuesday, May 24 report. The firm has “Buy” rating given on Monday, March 14 by Roth Capital.

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 1.68 in Q2 2016. Its up 0.90, from 0.78 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.
Moreover, Renaissance Llc has 0% invested in Pacific Ethanol Inc (NASDAQ:PEIX) for 296,100 shares. Tiaa Cref Inv Mgmt Limited Liability Corp reported 79,542 shares or 0% of all its holdings. Dnb Asset Management As owns 114,912 shares or 0% of their US portfolio. Moreover, Candlewood Inv Grp Lp has 31.11% invested in Pacific Ethanol Inc (NASDAQ:PEIX) for 10.13 million shares. Creative Planning holds 0% or 106 shares in its portfolio. State Common Retirement Fund, a New York-based fund reported 22,500 shares. Barclays Pcl accumulated 20,915 shares or 0% of the stock. Susquehanna Group Ltd Liability Partnership has invested 0% of its portfolio in Pacific Ethanol Inc (NASDAQ:PEIX). Manufacturers Life Insur Communication The last reported 0% of its portfolio in the stock. D E Shaw & Co last reported 0% of its portfolio in the stock. State Board Of Administration Of Florida Retirement accumulated 0% or 10,169 shares. Rhumbline Advisers last reported 35,095 shares in the company. Lorem Ipsum Mngmt Llc holds 50,000 shares or 0.59% of its portfolio. Parametric Port Assocs Lc has 479,021 shares for 0% of their US portfolio. Dimensional Fund Advsrs Limited Partnership, a Texas-based fund reported 111,786 shares.

Insider Transactions: Since June 9, 2016, the stock had 0 buys, and 3 sales for $404,127 net activity. Wright Christopher W sold $185,995 worth of Pacific Ethanol Inc (NASDAQ:PEIX) on Thursday, June 9. 17,745 Pacific Ethanol Inc (NASDAQ:PEIX) shares with value of $117,827 were sold by Prince John L. $100,305 worth of Pacific Ethanol Inc (NASDAQ:PEIX) shares were sold by Jones William L.

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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