Pacific Ethanol Inc (PEIX) Sees Significant Increase in Short Interest

Pacific Ethanol Inc (NASDAQ:PEIX) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,149,331 shares, an increase of 32.8% from the January 12th total of 865,721 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 326,813 shares, the days-to-cover ratio is currently 3.5 days.

In related news, Director William L. Jones sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $4.30, for a total value of $86,000.00. Following the completion of the transaction, the director now owns 56,903 shares in the company, valued at approximately $244,682.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.87% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Pacific Ethanol during the 4th quarter valued at approximately $126,000. BlackRock Inc. increased its position in Pacific Ethanol by 7.5% during the 4th quarter. BlackRock Inc. now owns 5,557,773 shares of the oil and gas company’s stock valued at $25,287,000 after purchasing an additional 386,167 shares during the period. Wells Fargo & Company MN increased its position in Pacific Ethanol by 20.4% during the 4th quarter. Wells Fargo & Company MN now owns 123,454 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 20,941 shares during the period. Chicago Equity Partners LLC acquired a new stake in shares of Pacific Ethanol during the 4th quarter worth approximately $321,000. Finally, Foundry Partners LLC grew its position in shares of Pacific Ethanol by 39.1% during the 4th quarter. Foundry Partners LLC now owns 890,370 shares of the oil and gas company’s stock worth $4,051,000 after buying an additional 250,075 shares during the period. 81.40% of the stock is owned by institutional investors and hedge funds.

PEIX has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 28th. Finally, B. Riley started coverage on shares of Pacific Ethanol in a research report on Tuesday, November 28th. They set a “buy” rating and a $7.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $10.20.

Shares of Pacific Ethanol (NASDAQ PEIX) opened at $3.70 on Friday. The firm has a market cap of $164.92, a P/E ratio of -16.09, a price-to-earnings-growth ratio of 0.37 and a beta of 1.84. The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.56. Pacific Ethanol has a 52-week low of $3.55 and a 52-week high of $9.35.

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Pacific Ethanol Company Profile

Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.

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