Alto Ingredients Inc (NASDAQ: ALTO) Could Be A Life-Changing Stock?

In the last trading session, 1.42 million Alto Ingredients Inc (NASDAQ:ALTO) shares changed hands as the company’s beta touched 2.21. With the company’s per share price at $2.35 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $169.95M. ALTO’s last price was a discount, traded about -111.49% off its 52-week high of $4.97. The share price had its 52-week low at $1.20, which suggests the last value was 48.94% up since then. When we look at Alto Ingredients Inc’s average trading volume, we note the 10-day average is 3.85 million shares, with the 3-month average coming to 1.31 million.

Analysts gave the Alto Ingredients Inc (ALTO) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ALTO as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Alto Ingredients Inc’s EPS for the current quarter is expected to be -$0.08.

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Alto Ingredients Inc (NASDAQ:ALTO) trade information

The company’s shares are showing year-to-date downside of -18.40%, with the 5-day performance at 6.82% in the green. However, in the 30-day time frame, Alto Ingredients Inc (NASDAQ:ALTO) is -38.48% down. Looking at the short shares, we see there were 2.23 million shares sold at short interest cover period of 2.93 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.25, meaning bulls need an upside of 55.24% from its current market value. According to analyst projections, ALTO’s forecast low is $5.00 with $5.50 as the target high. To hit the forecast high, the stock’s price needs a -134.04% plunge from its current level, while the stock would need to soar -112.77% for it to hit the projected low.

Alto Ingredients Inc (ALTO) estimates and forecasts

Data shows that the Alto Ingredients Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 3.52% over the past 6 months, a 70.00% in annual growth rate that is considerably higher than the industry average of 10.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Alto Ingredients Inc will rise 82.60%, while the growth in revenue is estimated to hit 33.30% for the next quarter. Year-over-year growth is forecast to reach -7.00% down from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $292.76 million. 1 analysts are of the opinion that Alto Ingredients Inc’s revenue for the quarter ending Mar 2024 will be $282.1 million. The company’s revenue for the corresponding quarters a year ago was $328.44 million and $313.89 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -10.90%. The estimates for the next quarter sales put growth at -10.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 6.81%. The 2023 estimates are for Alto Ingredients Inc earnings to increase by 63.33%, but the outlook for the next 5-year period is at 20.00% per year.

ALTO Dividends

Alto Ingredients Inc is expected to release its next quarterly earnings report on November 06.

Alto Ingredients Inc (NASDAQ:ALTO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 5.73% of Alto Ingredients Inc shares while 49.26% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 52.25%. There are 49.26% institutions holding the Alto Ingredients Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 5.02% of the shares, roughly 3.81 million ALTO shares worth $11.01 million.

Charles Schwab Investment Management, Inc. holds the second largest percentage of outstanding shares, with 2.46% or 1.87 million shares worth $5.41 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Schwab Strategic Tr-Schwab Fundamental U.S. Small Company Index ETF. With 2.66 million shares estimated at $7.67 million under it, the former controlled 3.50% of total outstanding shares. On the other hand, Schwab Strategic Tr-Schwab Fundamental U.S. Small Company Index ETF held about 1.52% of the shares, roughly 1.15 million shares worth around $2.31 million.

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