Noteworthy Price Action: Could Pacific Ethanol Inc Go Down After Making 52-Week High?

Noteworthy Price Action: Could Pacific Ethanol Inc Go Down After Making 52 Week High?

The stock of Pacific Ethanol Inc (NASDAQ:PEIX) hit a new 52-week high and has $8.12 target or 5.00% above today’s $7.73 share price. The 6 months bullish chart indicates low risk for the $352.22M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $8.12 price target is reached, the company will be worth $17.61M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 232,826 shares traded hands. Pacific Ethanol Inc (NASDAQ:PEIX) has risen 63.81% since April 20, 2016 and is uptrending. It has outperformed by 59.26% the S&P500.

Pacific Ethanol Inc (NASDAQ:PEIX) Ratings Coverage

Out of 3 analysts covering Pacific Ethanol (NASDAQ:PEIX), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Pacific Ethanol has been the topic of 5 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Roth Capital on Monday, March 14. Rodman & Reshaw initiated it with “Buy” rating and $11 target price in Tuesday, May 24 report.

According to Zacks Investment Research, “Pacific Ethanol, Inc. is currently in the business of marketing ethanol in the Western United States through Kinergy Marketing, a wholly-owned subsidiary of the Company and the largest West Coast-based marketer of renewable fuels. The Company intends, in the near future, to construct an ethanol production facility at its Madera County, California, site.”

Insitutional Activity: The institutional sentiment increased to 1.68 in Q2 2016. Its up 0.90, from 0.78 in 2016Q1. The ratio is positive, as 13 funds sold all Pacific Ethanol Inc shares owned while 28 reduced positions. 10 funds bought stakes while 22 increased positions. They now own 28.35 million shares or 1.70% less from 28.84 million shares in 2016Q1.
Royal Bancorporation Of Canada holds 0% or 111 shares in its portfolio. Moreover, Hightower Advisors Ltd Co has 0.14% invested in Pacific Ethanol Inc (NASDAQ:PEIX) for 2.08 million shares. State Board Of Administration Of Florida Retirement Sys has 10,169 shares for 0% of their US portfolio. Tiaa Cref Invest Mgmt Limited holds 0% of its portfolio in Pacific Ethanol Inc (NASDAQ:PEIX) for 79,542 shares. Boston Partners has 0.02% invested in the company for 2.15M shares. Bnp Paribas Arbitrage Sa accumulated 2,292 shares or 0% of the stock. Group Inc Inc One Trading Ltd Partnership has 60,166 shares for 0% of their US portfolio. Foundry Prtnrs Lc accumulated 401,575 shares or 0.12% of the stock. State Street holds 601,816 shares or 0% of its portfolio. Parametric Portfolio Associate Ltd accumulated 479,021 shares or 0% of the stock. Rr Advsr holds 309,000 shares or 0.25% of its portfolio. American International Group holds 16,515 shares or 0% of its portfolio. Thomson Horstmann And Bryant accumulated 1.68% or 2.38 million shares. Fifth Third Bancorp accumulated 0% or 1,355 shares. Moreover, Blackrock Fund Advisors has 0% invested in Pacific Ethanol Inc (NASDAQ:PEIX) for 735,976 shares.

Insider Transactions: Since June 9, 2016, the stock had 0 buys, and 3 sales for $404,127 net activity. $100,305 worth of shares were sold by Jones William L on Wednesday, August 10. $185,995 worth of Pacific Ethanol Inc (NASDAQ:PEIX) shares were sold by Wright Christopher W. $117,827 worth of Pacific Ethanol Inc (NASDAQ:PEIX) was sold by Prince John L on Friday, August 12.

Another recent and important Pacific Ethanol Inc (NASDAQ:PEIX) news was published by Bizjournals.com which published an article titled: “Pacific Ethanol’s second-quarter profit rises as sales almost double” on July 27, 2016.

PEIX Company Profile

Pacific Ethanol, Inc., incorporated on February 28, 2005, is a producer and marketer of low-carbon renewable fuels in the United States. The Company’s divisions include a production segment and a marketing segment. The Firm owns and operates over eight ethanol production facilities. Approximately four of its plants are in the Western states of California, Oregon and Idaho, or the Pacific Ethanol West plants, and over four of its plants are located in the Midwestern states of Illinois and Nebraska, or the Pacific Ethanol Central plants. The Company’s plants have a combined ethanol production capacity of over 515 million gallons per year.

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