Stock Alert for Pacific Ethanol Inc. (PEIX)
  • Stock Alert for Pacific Ethanol Inc. (PEIX)
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    Alternative Energy Trade Option: Pacific Ethanol Inc. (PEIX)

    Alternative Energy Trade Option: Pacific Ethanol Inc. (PEIX)

    Shares of ethanol marketer and producer Pacific Ethanol Inc. (PEIX) slipped 6.72% to close Thursday’s trade at $1.11, extending the prior day’s 2.5% decline.  Over 3.64 million shares traded hands during the session, versus the 10-day average of 4.15 million shares.

    Over the last 52 weeks, the stock has ranged from a low of $0.25 to a high of $6.30. It is currently trading above its 50-day and 200-day moving averages of $1.08 and $0.74, respectively.  Market capitalization currently stands at 92.77 million and it has 85.11 million outstanding shares.

    Pacific Ethanol, based out of Sacramento, California, markets and produces  low-carbon renewable fuels in the Western United States. It also sells co-products, including wet distillers grain (WDG), a nutritional animal feed.  The company generated net sales of $328.3 million for 2010, as compared with $316.6 million for 2009. Total gallons sold were 271.6 million in 2010, an increase of 98.9 million gallons over the 172.7 million gallons sold in the prior year.

    Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Nevada, Arizona, Oregon, Colorado, Idaho and Washington.

    Investors last month welcomed the news that the company closed its $4.6 million purchase of an additional 7% ownership interest in New PE Holdco LLC, increasing its total ownership interest to 34%. New PE Holdco LLC owns, and the company operates, the four Pacific Ethanol production facilities.

    The company also announced the closing of an $8.0 million private placement of nearly 7.63 million shares of common stock and warrants to purchase up to approximately 4.96 million shares of common stock.

    PEIX have slipped 5.2% in the last five days, though the stock gained 28.8% in the last month.  Year-to-date, the stock is down 81.7%.

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