What’s Next for Pacific Ethanol, Inc. (PEIX) After Forming Bearish Multiple Bottom?

January 23, 2018 - By Vivian Park

Investors sentiment decreased to 1.27 in 2017 Q3. Its down 0.89, from 2.16 in 2017Q2. It turned negative, as 20 investors sold Pacific Ethanol, Inc. shares while 28 reduced holdings. 19 funds opened positions while 42 raised stakes. 34.38 million shares or 6.44% more from 32.30 million shares in 2017Q2 were reported.
Barclays Public Limited Co accumulated 1,649 shares or 0% of the stock. 164,400 are held by Bridgeway Capital Mgmt. First Trust Advisors Lp accumulated 0% or 43,943 shares. Numeric Limited Liability invested 0.02% of its portfolio in Pacific Ethanol, Inc. (NASDAQ:PEIX). Voya Invest Ltd Liability Corporation reported 0% of its portfolio in Pacific Ethanol, Inc. (NASDAQ:PEIX). 414,238 are held by Clarivest Asset Mngmt Ltd Liability Co. Moreover, Susquehanna Gp Ltd Liability Partnership has 0% invested in Pacific Ethanol, Inc. (NASDAQ:PEIX). The Illinois-based Citadel has invested 0% in Pacific Ethanol, Inc. (NASDAQ:PEIX). Vanguard Grp reported 1.26M shares. Blackrock Incorporated reported 0% in Pacific Ethanol, Inc. (NASDAQ:PEIX). Bank & Trust Of Ny Mellon reported 225,676 shares. State Street owns 0% invested in Pacific Ethanol, Inc. (NASDAQ:PEIX) for 557,058 shares. Nordea Mngmt Ab reported 0% in Pacific Ethanol, Inc. (NASDAQ:PEIX). Metropolitan Life Insurance Ny stated it has 0% in Pacific Ethanol, Inc. (NASDAQ:PEIX). California State Teachers Retirement stated it has 67,557 shares or 0% of all its holdings.

The stock of Pacific Ethanol, Inc. (PEIX) shows a multiple bottoms pattern with $4.37 target or 4.00 % below today’s $4.55 share price. The 8 months chart pattern indicates high risk for the $200.07 million company. It was reported on Jan, 23 by Finviz.com. If the $4.37 price target is reached, the company will be worth $8.00 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 2.15% or $0.1 during the last trading session, reaching $4.55. About 94,141 shares traded. Pacific Ethanol, Inc. (NASDAQ:PEIX) has risen 39.62% since January 23, 2017 and is uptrending. It has outperformed by 22.92% the S&P500.

Analysts await Pacific Ethanol, Inc. (NASDAQ:PEIX) to report earnings on March, 7. They expect $-0.04 EPS, down 113.33 % or $0.34 from last year’s $0.3 per share. After $-0.01 actual EPS reported by Pacific Ethanol, Inc. for the previous quarter, Wall Street now forecasts 300.00 % negative EPS growth.

Pacific Ethanol, Inc. (NASDAQ:PEIX) Ratings Coverage

Among 7 analysts covering Pacific Ethanol (NASDAQ:PEIX), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Pacific Ethanol has $1400 highest and $7 lowest target. $9.86’s average target is 116.70% above currents $4.55 stock price. Pacific Ethanol had 13 analyst reports since October 8, 2015 according to SRatingsIntel. The rating was maintained by Roth Capital with “Buy” on Thursday, September 28. The firm has “Buy” rating by H.C. Wainwright given on Friday, August 4. The stock of Pacific Ethanol, Inc. (NASDAQ:PEIX) has “Buy” rating given on Friday, July 28 by Cowen & Co. Rodman & Reshaw initiated the shares of PEIX in report on Tuesday, May 24 with “Buy” rating. The firm has “Buy” rating by Roth Capital given on Monday, March 14. H.C. Wainwright maintained Pacific Ethanol, Inc. (NASDAQ:PEIX) rating on Wednesday, June 28. H.C. Wainwright has “Buy” rating and $1400 target. The rating was maintained by Roth Capital on Friday, November 3 with “Buy”. The rating was maintained by Roth Capital on Friday, July 28 with “Buy”.

More notable recent Pacific Ethanol, Inc. (NASDAQ:PEIX) news were published by: Globenewswire.com which released: “Pacific Ethanol to Release Third Quarter 2017 Results” on November 02, 2017, also Globenewswire.com with their article: “Pacific Ethanol Reports Third Quarter 2017 Results” published on November 07, 2017, Seekingalpha.com published: “Pacific Ethanol – A Good Value Under $5” on August 16, 2017. More interesting news about Pacific Ethanol, Inc. (NASDAQ:PEIX) were released by: Globenewswire.com and their article: “Pacific Ethanol to Acquire Illinois Corn Processing” published on June 27, 2017 as well as Globenewswire.com‘s news article titled: “Pacific Ethanol Refinances $47.5 Million in Secured Promissory Notes” with publication date: September 18, 2017.

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