Pacific Ethanol Inc (NASDAQ:PEIX) Short Interest Update

Pacific Ethanol Inc (NASDAQ:PEIX) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,282,200 shares, a growth of 6.9% from the May 15th total of 1,199,700 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 327,500 shares, the short-interest ratio is presently 3.9 days.

PEIX has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating on shares of Ballard Power Systems in a research report on Friday, May 3rd. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Pacific Ethanol has a consensus rating of “Hold” and a consensus target price of $4.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in PEIX. Norges Bank acquired a new stake in Pacific Ethanol during the fourth quarter valued at approximately $191,000. Acadian Asset Management LLC raised its stake in Pacific Ethanol by 109.7% during the fourth quarter. Acadian Asset Management LLC now owns 350,742 shares of the oil and gas company’s stock valued at $302,000 after buying an additional 183,454 shares in the last quarter. Geode Capital Management LLC raised its stake in Pacific Ethanol by 41.9% during the fourth quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock valued at $283,000 after buying an additional 97,240 shares in the last quarter. California Public Employees Retirement System raised its stake in Pacific Ethanol by 32.2% during the fourth quarter. California Public Employees Retirement System now owns 189,775 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 46,240 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Pacific Ethanol by 4.2% during the fourth quarter. Advisor Group Inc. now owns 406,355 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 16,197 shares in the last quarter. Hedge funds and other institutional investors own 38.82% of the company’s stock.

PEIX stock opened at $0.67 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.48 and a current ratio of 0.75. Pacific Ethanol has a 12-month low of $0.67 and a 12-month high of $3.24. The firm’s 50-day moving average price is $0.86. The stock has a market capitalization of $33.65 million, a P/E ratio of -0.48 and a beta of 1.99.

Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.20). Pacific Ethanol had a negative return on equity of 19.59% and a negative net margin of 4.46%. The business had revenue of $355.80 million during the quarter, compared to analyst estimates of $387.87 million. Equities analysts predict that Pacific Ethanol will post -0.86 earnings per share for the current fiscal year.

About Pacific Ethanol

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.

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