Pacific Ethanol Inc (NASDAQ:PEIX) Sees Large Increase in Short Interest

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Pacific Ethanol Inc (NASDAQ:PEIX) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,282,200 shares, a growth of 6.9% from the May 15th total of 1,199,700 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily volume of 327,500 shares, the short-interest ratio is presently 3.9 days.

A number of large investors have recently bought and sold shares of PEIX. Norges Bank purchased a new stake in Pacific Ethanol during the fourth quarter valued at approximately $191,000. Acadian Asset Management LLC lifted its position in Pacific Ethanol by 109.7% during the fourth quarter. Acadian Asset Management LLC now owns 350,742 shares of the oil and gas company’s stock valued at $302,000 after acquiring an additional 183,454 shares during the last quarter. Geode Capital Management LLC lifted its position in Pacific Ethanol by 41.9% during the fourth quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock valued at $283,000 after acquiring an additional 97,240 shares during the last quarter. California Public Employees Retirement System lifted its position in Pacific Ethanol by 32.2% during the fourth quarter. California Public Employees Retirement System now owns 189,775 shares of the oil and gas company’s stock valued at $163,000 after acquiring an additional 46,240 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in Pacific Ethanol by 4.2% during the fourth quarter. Advisor Group Inc. now owns 406,355 shares of the oil and gas company’s stock valued at $350,000 after acquiring an additional 16,197 shares during the last quarter. 38.82% of the stock is owned by institutional investors.

PEIX has been the subject of several research reports. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. HC Wainwright reaffirmed a “buy” rating on shares of Ballard Power Systems in a research report on Friday, May 3rd. Finally, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Pacific Ethanol has a consensus rating of “Hold” and a consensus target price of $4.50.

NASDAQ:PEIX opened at $0.67 on Friday. Pacific Ethanol has a 52 week low of $0.67 and a 52 week high of $3.24. The company’s 50 day moving average price is $0.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.48. The stock has a market capitalization of $33.65 million, a PE ratio of -0.48 and a beta of 1.99.

Pacific Ethanol (NASDAQ:PEIX) last posted its earnings results on Wednesday, May 1st. The oil and gas company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.20). Pacific Ethanol had a negative net margin of 4.46% and a negative return on equity of 19.59%. The firm had revenue of $355.80 million for the quarter, compared to analysts’ expectations of $387.87 million. On average, equities analysts anticipate that Pacific Ethanol will post -0.86 earnings per share for the current fiscal year.

Pacific Ethanol Company Profile

Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.

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