Aemetis, Inc. (NASDAQ:AMTX) experienced a significant drop in its stock price, falling below its two hundred-day moving average during trading on Friday. The stock’s moving average stands at $2.29, but it traded as low as $1.55 before closing at $1.59 with a trading volume of 581,822 shares.
Analyst sentiment surrounding Aemetis has shifted recently. On October 8, Weiss Ratings reiterated a “sell (e+)” rating for the company. Meanwhile, Ascendiant Capital Markets adjusted their target price from $21.00 to $20.00 while maintaining a “buy” rating in a research note on November 19. Currently, three analysts have rated Aemetis with a Buy rating, while one has issued a Sell rating. According to data from MarketBeat, the consensus rating for the stock is “Moderate Buy,” with an average target price of $17.00.
Aemetis released its quarterly earnings report on November 7. The company reported an earnings per share (EPS) of ($0.37), falling short of the consensus estimate of ($0.25) by $0.12. Revenue for the quarter reached $59.19 million, significantly below analysts’ expectations of $87.79 million. Looking ahead, sell-side analysts project that Aemetis will report an EPS of ($2.07) for the current fiscal year.
Institutional investment trends show a mix of actions in Aemetis shares. Several hedge funds and institutional investors have either increased or reduced their stakes in the company recently. For instance, Catalyst Funds Management Pty Ltd acquired a new stake in Aemetis valued at $25,000 during the second quarter. Similarly, Creative Planning and R Squared Ltd each purchased new positions worth approximately $30,000. In the third quarter, Centiva Capital LP acquired a stake valued at around $39,000, while Ethic Inc. invested about $42,000 in the second quarter. Currently, institutional investors and hedge funds collectively own 27.02% of Aemetis stock.
Founded in 2006 and headquartered in Cupertino, California, Aemetis is focused on producing renewable fuels and renewable natural gas. The company operates through two main segments: Aemetis Advanced Fuels, which manufactures ethanol, biodiesel, and sustainable aviation fuel, and Aemetis RNG, which develops renewable natural gas projects in California aimed at pipeline injection and transportation. Aemetis has expanded its production capabilities through both organic growth and strategic acquisitions, positioning itself as a significant player in the renewable energy sector.
