Alto Ingredients Inc. (NASDAQ:ALTO) finished Wednesday with a subtraction of -$0.16 to close at $4.20, a downside of -3.67 percent. An average of 1,821,240 shares of common stock have been traded in the last five days. There was a gain of $0.46 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 1,296,545 shares traded, while the 50-day average volume stands at 1,748,174.
ALTO stock has increased by 16.67% in the last month. The company shares reached their 1-month lowest point of $3.23 on 07/10/23. With the stock rallying to its 52-week high on 08/09/23, shares of the company touched a low of $1.20 and a high of $5.30 in 52 weeks. It has reached a new high 20 times so far this year and achieved 45.83% or $1.32 in price. In spite of this, the price is down -20.75% from the 52-week high.
Valuation Metrics
Alto Ingredients Inc. (ALTO) stock’s beta is 2.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.24, the price-to-book (PB) ratio at 1.06.
Financial Health
The quick ratio of Alto Ingredients Inc. for the three months ended June 29 was 1.90, and the current ratio was 3.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.28 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Alto Ingredients Inc.’s EBITDA margin for the year ending June 29 is -3.99%. Its gross profit as reported stood at -$27.55 million compared to revenue of $1.34 billion.
Earnings Surprise
For the three-month period that ended June 29, Alto Ingredients Inc. had $82.08 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $7.18 million in the quarter, while revenues of -$13.48 million were shrunk -199.72%. The analyst consensus anticipated Alto Ingredients Inc.’s latest quarter earnings to come in at -$0.05 per share, but it turned out to be $0.1, a 300.00% surprise. For the quarter, EBITDA amounted to $15.41 million. Shareholders own equity worth $75.91 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Alto Ingredients Inc. (ALTO) price momentum. RSI 9-day as of the close on 09 August was 63.06%, suggesting the stock is Neutral, with historical volatility in this time frame at 97.42%.
As of today, ALTO’s price is $4.01 +12.30% or $0.46 from its 5-day moving average. ALTO is currently trading +12.60% higher than its 20-day SMA and +130.77% higher than its 100-day SMA. However, the stock’s current price level is +102.90% above the SMA50 and +4.48% above the SMA200.
The stochastic %K and %D were 63.09% and 52.52%, respectively, and the average true range (ATR) was 0.28. With the 14-day stochastic at 72.38% and the average true range at 0.26, the RSI (14) stands at 64.24%. The stock has reached 0.12 on the 9-day MACD Oscillator while the 14-day reading was at 0.16.
What is ALTO’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $7.00, with a median target of $6.50. Taking a look at these predictions, the average price target given by analysts for Alto Ingredients Inc. (ALTO) stock is $6.50.
