Wednesday, December 2, 2020

Pacific Ethanol Inc. [PEIX] moved down -15.05: Why It’s Important

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Pacific Ethanol Inc. [NASDAQ: PEIX] slipped around -1.1 points on Wednesday, while shares priced at $6.18 at the close of the session, down -15.05%. The company report on October 29, 2020 that Pacific Ethanol Announces Closing of $75 Million Equity Offerings.

Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer of specialty alcohols and essential ingredients, today announced the closing of its previously announced underwritten public offering of common stock and pre-funded warrants and concurrent private offering of warrants, for total gross proceeds of approximately $75.0 million.


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The company closed an underwritten public offering of 5,075,000 shares of its common stock at a public offering price of $8.42 per share and 5-year pre-funded warrants to purchase 3,825,493 shares of common stock at a public offering price of $8.42 per pre-funded warrant. In addition, in a concurrent private placement, the company also issued to investors, for a nominal price, warrants to purchase an additional 8,900,493 shares of common stock at an exercise price of $9.757 per share. The warrants will become exercisable after the six-month anniversary of the offering and will expire on the 18-month anniversary of the offering. The aggregate gross proceeds from the offerings of common stock, pre-funded warrants and warrants was approximately $75.0 million. The net offering proceeds to the company were approximately $70.0 million after deducting underwriting discounts and commissions and other estimated offering expenses.

Pacific Ethanol Inc. stock is now 850.77% up from its year-to-date (YTD) trading value. PEIX Stock saw the intraday high of $7.35 and lowest of $5.92 per share. The company’s 52-week high price is 11.44, which means current price is +2,709.09% above from all time high which was touched on 10/20/20.

Compared to the average trading volume of 7.95M shares, PEIX reached a trading volume of 13061799 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Pacific Ethanol Inc. [PEIX]?

BWS Financial have made an estimate for Pacific Ethanol Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 22, 2020. While these analysts kept the previous recommendation, B. Riley FBR dropped their target price from $7 to $5. The new note on the price target was released on November 07, 2018, representing the official price target for Pacific Ethanol Inc. stock. Previously, the target price had yet another raise to $7, while B. Riley FBR Inc. analysts kept a Buy rating on PEIX stock.

The Average True Range (ATR) for Pacific Ethanol Inc. is set at 1.00, with the Price to Sales ratio for PEIX stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 0.46. Price to Free Cash Flow for PEIX in the course of the last twelve months was 9.22 with Quick ratio for the last quarter at 0.60.

How has PEIX stock performed recently?

Pacific Ethanol Inc. [PEIX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -41.86. With this latest performance, PEIX shares dropped by -21.37% in over the last four-week period, additionally plugging by 1645.76% over the last 6 months – not to mention a rise of 993.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PEIX stock in for the last two-week period is set at 36.83, with the RSI for the last a single of trading hit 26.15, and the three-weeks RSI is set at 43.15 for Pacific Ethanol Inc. [PEIX]. The present Moving Average for the last 50 days of trading for this stock 6.72, while it was recorded at 7.87 for the last single week of trading, and 2.28 for the last 200 days.

Pacific Ethanol Inc. [PEIX]: Deeper insight into the fundamentals

Pacific Ethanol Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.90.

Earnings analysis for Pacific Ethanol Inc. [PEIX]

With the latest financial reports released by the company, Pacific Ethanol Inc. posted -0.58/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -262.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PEIX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pacific Ethanol Inc. go to 20.00%.

Insider trade positions for Pacific Ethanol Inc. [PEIX]

There are presently around $71 million, or 18.20% of PEIX stock, in the hands of institutional investors. The top three institutional holders of PEIX stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 4,153,428, which is approximately 45.607% of the company’s market cap and around 4.00% of the total institutional ownership; BLACKROCK INC., holding 3,500,865 shares of the stock with an approximate value of $21.64 million in PEIX stocks shares; and VANGUARD GROUP INC, currently with $10.47 million in PEIX stock with ownership of nearly 0% of the company’s market capitalization.

20 institutional holders increased their position in Pacific Ethanol Inc. [NASDAQ:PEIX] by around 1,641,043 shares. Additionally, 24 investors decreased positions by around 2,769,781 shares, while 17 investors held positions by with 7,057,626 shares. The mentioned changes placed institutional holdings at 11,468,450 shares, according to the latest SEC report filing. PEIX stock had 12 new institutional investments in for a total of 208,638 shares, while 10 institutional investors sold positions of 755,173 shares during the same period.

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