Alto Ingredients Inc (NASDAQ: ALTO) stock jumped 3.98% on Friday to $2.35 against a previous-day closing price of $2.26. With 1.23 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.3 million shares. During the session, the Specialty Chemicals company that operates in wider Basic Materials sector, reached to the highest price of $2.3900 whereas the lowest price it dropped to was $2.2500. The 52-week range on ALTO shows that it touched its highest point at $4.97 and its lowest point at $1.20 during that stretch. It currently has a 1-year price target of $5.25. Beta for the stock currently stands at 2.21.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALTO was up-trending over the past week, with a rise of 12.44%, but this was down by -41.54% over a month. Three-month performance dropped to -35.26% while six-month performance rose 6.82%. The stock lost -34.72% in the past year, while it has lost -18.40% so far this year. A look at the trailing 12-month EPS for ALTO yields -0.59 with Next year EPS estimates of 0.07. For the next quarter, that number is -0.08. This implies an EPS growth rate of 63.33% for this year and 129.55% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 6.81%.
Float and Shares Shorts:
At present, 75.15 million ALTO shares are outstanding with a float of 71.38 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.23 million, which was 2.93% higher than short shares on Sep 28, 2023. In addition to Mr. Bryon T. McGregor as the firm’s CEO & President, Mr. Michael D. Kandris serves as its Interim COO & Director.
Through their ownership of 49.26% of ALTO’s outstanding shares, institutional investors have minority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALTO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALTO analysts setting a high price target of $5.50 and a low target of $5.00, the average target price over the next 12 months is $5.25. Based on these targets, ALTO could surge 134.04% to reach the target high and rise by 112.77% to reach the target low. Reaching the average price target will result in a growth of 123.4% from current levels.
Summary of Insider Activity:
Insiders traded ALTO stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 208,500 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 1,227,476 while 0 shares were sold.