An interesting stock that came up in some of our conversations today is Pacific Ethanol, Inc. (NASDAQ:PEIX). At current price of $0.69, the shares have already lost -0.02 points (-3.16% lower) from its previous close of $0.71. Should you buy or avoid them? The stock sets an active trading volume day with a reported 239303 contracts so far this session. PEIX shares had a relatively better volume day versus average trading capacity of 338.7 thousand shares, but with a 44.2 million float and a -8.41% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PEIX stock indicates that the average analyst price target is $4.17 per share. This means the stock has a potential increase of 504.35% from where the PEIX share price has been trading recently which is between $0.7126 and $0.76. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $4.
The shorts are climbing into Pacific Ethanol, Inc. (PEIX) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in PEIX shares. While short interest still represents only 2.9% of PEIX’s float, the number of shares shorted have risen by 139635. The number of shares shorted advanced to 1421852 shares, up from 1282217 shares during the preceding fortnight. With average daily trading volumes at 250424 shares, days to cover increased to about 3.884047 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “How Should Investors Feel About Pacific Ethanol, Inc.’s (NASDAQ:PEIX) CEO Pay?” and dated July 08, 2019.
During the recent trading session for Pacific Ethanol, Inc. (NASDAQ:PEIX), the company witnessed their stock drop by $-0.07 over a week and tumble down $-0.12 from the price 20 days ago. When compared to their established 52-week high of $3.24, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/09/18. The recent low of $0.68 stood for a -78.7% since 07/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.02 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Pacific Ethanol, Inc., the two-week RSI stands at 30.41. This figure suggests that PEIX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PEIX readings is similarly very revealing as it has a stochastic reading of 19.7% at this stage. This figure means that PEIX share price today is being overbought.
Technical chart claims that Pacific Ethanol, Inc. (PEIX) would settle between $0.74/share to $0.78/share level. However, if the stock price goes below the $0.7 mark, then the market for Pacific Ethanol, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.68 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at B. Riley FBR lifted target price for shares of PEIX but were stick to Buy recommendation for the stock in their opinion released on November 07. The price target has been raised from $7 to $5. B. Riley FBR, Inc., analysts launched coverage of Pacific Ethanol, Inc. (NASDAQ:PEIX) stock with a Buy recommendation, according to their flash note issued to investors on November 28. Analysts at Rodman & Renshaw, made their first call for the equity with a Buy recommendation, according to a research note that dated back to May 24.
PEIX equity has an average rating of 2.33, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Pacific Ethanol, Inc. (NASDAQ:PEIX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PEIX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.02 while for the average stock in the same group, the multiple is 38.66.
Pacific Ethanol, Inc. (PEIX)’s current-quarter revenues are projected to climb by nearly -8.14% to hit $377120, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.01% from $1.52 billion to a noteworthy $1.52 billion. At the other end of the current quarter income statement, Pacific Ethanol, Inc. is expected to see its adjusted earnings surge by roughly 38.71% to hit $-0.19 per share. For the fiscal year, PEIX’s earnings are projected to climb by roughly 39.44% to hit $-0.86 per share.