Could Pacific Ethanol, Inc. (PEIX) Recover After Forming a Bearish Multiple Bottom?

January 13, 2018 - By Richard Conner

Investors sentiment decreased to 1.27 in Q3 2017. Its down 0.89, from 2.16 in 2017Q2. It worsened, as 20 investors sold Pacific Ethanol, Inc. shares while 28 reduced holdings. 19 funds opened positions while 42 raised stakes. 34.38 million shares or 6.44% more from 32.30 million shares in 2017Q2 were reported.
77,425 were reported by Macquarie Grp Limited. Voya Mngmt Ltd Liability Company owns 19,222 shares. Washington Tru Comml Bank reported 0% stake. 1,567 are owned by Meeder Asset Management Inc. Principal Financial Group stated it has 0% of its portfolio in Pacific Ethanol, Inc. (NASDAQ:PEIX). Tci Wealth Advisors Inc owns 0% invested in Pacific Ethanol, Inc. (NASDAQ:PEIX) for 153 shares. Moreover, Hutchin Hill Cap L P has 0% invested in Pacific Ethanol, Inc. (NASDAQ:PEIX). Metropolitan Life Ins Co holds 0% of its portfolio in Pacific Ethanol, Inc. (NASDAQ:PEIX) for 34,903 shares. The California-based Fort Point Capital Ptnrs Ltd Liability Corporation has invested 0.05% in Pacific Ethanol, Inc. (NASDAQ:PEIX). Nordea Investment Management holds 0% of its portfolio in Pacific Ethanol, Inc. (NASDAQ:PEIX) for 294,300 shares. Rr Advsrs Llc reported 150,000 shares stake. Northern Trust reported 711,716 shares stake. Teachers Ins & Annuity Association Of America holds 0.02% or 103,720 shares. Integral Derivatives Limited holds 11,800 shares or 0% of its portfolio. Franklin Res Inc owns 413,500 shares for 0% of their portfolio.

The stock of Pacific Ethanol, Inc. (PEIX) shows a multiple bottoms pattern with $4.37 target or 7.00 % below today’s $4.70 share price. The 8 months chart pattern indicates high risk for the $206.67 million company. It was reported on Jan, 13 by Finviz.com. If the $4.37 price target is reached, the company will be worth $14.47 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

It closed at $4.7 lastly. It is down 39.62% since January 13, 2017 and is uptrending. It has outperformed by 22.92% the S&P500.

Analysts await Pacific Ethanol, Inc. (NASDAQ:PEIX) to report earnings on March, 7. They expect $-0.04 earnings per share, down 113.33 % or $0.34 from last year’s $0.3 per share. After $-0.01 actual earnings per share reported by Pacific Ethanol, Inc. for the previous quarter, Wall Street now forecasts 300.00 % negative EPS growth.

Pacific Ethanol, Inc. (NASDAQ:PEIX) Ratings Coverage

Among 7 analysts covering Pacific Ethanol (NASDAQ:PEIX), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Pacific Ethanol has $1400 highest and $7 lowest target. $9.86’s average target is 109.79% above currents $4.7 stock price. Pacific Ethanol had 13 analyst reports since October 8, 2015 according to SRatingsIntel. Roth Capital maintained the shares of PEIX in report on Monday, March 14 with “Buy” rating. The firm earned “Buy” rating on Wednesday, June 28 by H.C. Wainwright. The firm has “Buy” rating given on Tuesday, May 24 by Rodman & Reshaw. On Friday, July 28 the stock rating was maintained by Roth Capital with “Buy”. Cowen & Co maintained the stock with “Buy” rating in Friday, July 28 report. H.C. Wainwright maintained Pacific Ethanol, Inc. (NASDAQ:PEIX) on Friday, August 4 with “Buy” rating. The stock of Pacific Ethanol, Inc. (NASDAQ:PEIX) earned “Buy” rating by Roth Capital on Friday, November 3. As per Thursday, September 28, the company rating was maintained by Roth Capital.

More notable recent Pacific Ethanol, Inc. (NASDAQ:PEIX) news were published by: Globenewswire.com which released: “Pacific Ethanol Reports Third Quarter 2017 Results” on November 07, 2017, also Prnewswire.com with their article: “This Morning’s Research Reports on Oil & Gas Stocks — Pacific Ethanol …” published on January 03, 2018, Globenewswire.com published: “Pacific Ethanol to Release Third Quarter 2017 Results” on November 02, 2017. More interesting news about Pacific Ethanol, Inc. (NASDAQ:PEIX) were released by: Globenewswire.com and their article: “Pacific Ethanol Refinances $47.5 Million in Secured Promissory Notes” published on September 18, 2017 as well as Seekingalpha.com‘s news article titled: “Pacific Ethanol Earnings Forecast” with publication date: October 28, 2017.

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