Pacific Ethanol Inc (PEIX) is Initiated by Rodman & Renshaw to Buy, Price Target at $11

Pacific Ethanol Inc (PEIX) was Initiated by Rodman & Renshaw to “Buy” and the brokerage firm has set the Price Target at $11. Rodman & Renshaw advised their investors in a research report released on May 24, 2016.

On the company’s financial health, Pacific Ethanol Inc reported $-0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.13. The company had revenue of $342.40 million for the quarter, compared to analysts expectations of $360.37 million. The company’s revenue was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.19 EPS.

Pacific Ethanol Inc opened for trading at $4.56 and hit $4.73 on the upside on Friday, eventually ending the session at $4.69, with a gain of 3.53% or 0.16 points. The heightened volatility saw the trading volume jump to 3,32,667 shares. Company has a market cap of $184,190 M.

In a different news, on Dec 4, 2015, Michael D Kandris (COO) purchased 3,000 shares at $4.89 per share price. According to the SEC, on Nov 24, 2015, James R Sneed (VP of Ethanol Supply & Trading) purchased 2,500 shares at $3.75 per share price. On Nov 19, 2015, Larry D Layne (director) purchased 10,000 shares at $4.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Pacific Ethanol Inc. is a producer and marketer of low-carbon renewable fuels in the Western United States. The Company also sells ethanol co-products including wet distillers grain (WDG) a nutritious animal feed and corn oil. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline the Company provides transportation storage and delivery of ethanol through third-party service providers. The Company holds a 96% ownership interest in PE Op Co. the owner of four ethanol production facilities. The Company sells ethanol produced by the four production facilities and unrelated third parties to gasoline refining and distribution companies sells its WDG to dairy operators and animal feed distributors and sells its corn oil to poultry and biodiesel customers. The Company markets all the ethanol it sells through its subsidiary Kinergy Marketing LLC.

Pacific Ethanol Inc

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