Sunday, June 26, 2022

A company insider recently bought 12,415 shares of Alto Ingredients Inc. [ALTO]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alto Ingredients Inc. shares valued at $50,405 were purchased by Kandris Michael D on May 20. At $4.06 per share, Kandris Michael D acquired 12,415 shares. The insider’s holdings grew to 548,784 shares worth approximately $2.17 million following the completion of this transaction.

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Also, NATHAN GILBERT E purchased 20,000 shares, netting a total of over 80,800 in proceeds. Following the buying of shares at $4.04 each, the insider now holds 483,800 shares.

Before that, NATHAN GILBERT E had added 10,000 shares to its account. In a trade valued at $49,600, the Director bought Alto Ingredients Inc. shares for $4.96 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $1.84 million.

Analyzing ALTO’s Price Performance

On Thursday, Alto Ingredients Inc. [NASDAQ: ALTO] plunged -2.70% to $3.96. The stock’s lowest price that day was $3.755, but it reached a high of $4.15 in the same session. During the last five days, there has been a drop of approximately -18.18%. Over the course of the year, Alto Ingredients Inc. shares have dropped approximately -17.67%. Shares of the company reached a 52-week high of $7.37 on 04/14/22 and a 52-week low of $3.76 on 06/23/22. A 50-day SMA is recorded $5.15, while a 200-day SMA reached $5.34. Nevertheless, trading volume fell to 2.66 million shares from 2.19 million shares the previous day.

Support And Resistance Levels for Alto Ingredients Inc. (ALTO)

According to the 24-hour chart, there is a support level at 3.76, which, if violated, would cause prices to drop to 3.56. In the upper region, resistance lies at 4.16. The next price resistance is at 4.35. RSI (Relative Strength Index) is 32.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.49, which suggests the price will decrease in the coming days. Percent R is at 85.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Alto Ingredients Inc. subject to short interest?

Stocks of Alto Ingredients Inc. saw a sharp steep in short interest on May 30, 2022 dropping by -3.32 million shares to 7.1 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 10.42 million shares. A decline of -46.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.93 of the overall float, the days-to-cover ratio (short ratio) decline to 3.93.

Which companies own the most shares of Alto Ingredients Inc. (ALTO)?

According to SSgA Funds Management, Inc. filings, the company currently owns 4,803,181 shares, which is about 6.48% of the total ALTO shares outstanding. The investor’s shares have appreciated by 316,663 from its previous 13-F filing of 4486518.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $21,177,376. The Vanguard Group, Inc. acquire a 0.79% interest valued at $15.15 million while Millennium Management LLC purchased a 2,226,814 stake. A total of -107,912 shares of Alto Ingredients Inc. were bought by Allspring Global Investments LLC during the quarter, and 623,433 were bought by Dimensional Fund Advisors LP. In its current portfolio, D. E. Shaw & Co. LP holds 1,386,468 shares valued at $6.17 million.

In terms of Alto Ingredients Inc. share price expectations, FactSet research, analysts set an average price target of $10.67 in the next 12 months, up nearly 96.56% from the previous closing price of $4.07. Analysts anticipate Alto Ingredients Inc. stock to reach $16.00 by 2022, with the lowest price target being $8.00.

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