Alto Ingredients Inc (NASDAQ:ALTO) price on Thursday, November 14, rose 5.34% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.38.
A look at the stock’s price movement, the close in the last trading session was $1.31, moving within a range at $1.32 and $1.3885. The beta value (5-Year monthly) was 1.981. Turning to its 52-week performance, $3.00 and $1.18 were the 52-week high and 52-week low respectively. Overall, ALTO moved -19.30% over the past month.
Alto Ingredients Inc’s market cap currently stands at around $105.78 million, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 222.81M for the company’s revenue for the quarter, with a low and high estimate of 210.23M and 235.4M respectively. The average forecast suggests down to a -18.57% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 951.72M, representing a -22.18% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ALTO is a Hold. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend ALTO as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ALTO’s current price about -16.34% and -14.99% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 39.10, while 7-day volatility ratio is 6.76% and 7.97% in the 30-day chart. Further, Alto Ingredients Inc (ALTO) has a beta value of 1.92, and an average true range (ATR) of 0.13. Analysts have given the company’s stock an average 52-week price target of $3.5, forecast between a low of $3.5 and high of $3.5. Looking at the price targets, the low is -153.62% off current price level while to achieve the yearly target high, price needs to move -153.62%. Nonetheless, investors will most likely welcome a -153.62% jump to $3.5 which is the analysts’ median price.
If we refocus on Alto Ingredients Inc (NASDAQ:ALTO), historical trading data shows that trading volumes averaged 2.08 over the past 10 days and 691.29K over the past 3 months. The company’s latest data on shares outstanding shows there are 75.70 million shares.
The 4.96% of Alto Ingredients Inc’s shares are in the hands of company insiders while institutional holders own 33.18% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.77 million on 2024-10-31, giving us a short ratio of 1.95. The data shows that as of 2024-10-31 short interest in Alto Ingredients Inc (ALTO) stood at 105.0 of shares outstanding, with shares short rising to 0.5 million registered in 2024-09-30. Current price change has pushed the stock -48.12% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ALTO stock continues to rise going into the next quarter.
