Green Plains (NASDAQ:GPRE) Trading Down 7.3% – Here’s What Happened

Green Plains Inc. (NASDAQ:GPRE) was down 7.3% during trading on Wednesday . The company traded as low as $10.74 and last traded at $10.82. Approximately 393,688 shares changed hands during trading, a decline of 64% from the average daily volume of 1,081,600 shares. The stock had previously closed at $11.67.

Analysts Set New Price Targets

GPRE has been the subject of several recent research reports. UBS Group decreased their price objective on Green Plains from $26.00 to $23.50 and set a “buy” rating for the company in a report on Monday, August 19th. Oppenheimer cut shares of Green Plains from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. Truist Financial cut their price objective on shares of Green Plains from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Craig Hallum lowered their target price on shares of Green Plains from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, BMO Capital Markets cut their price target on Green Plains from $22.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Green Plains currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Green Plains Stock Down 6.9 %

The stock has a 50-day simple moving average of $13.18 and a two-hundred day simple moving average of $16.18. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.55. The firm has a market cap of $702.41 million, a PE ratio of -8.80 and a beta of 1.52.

Green Plains (NASDAQ:GPRE) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.35). Green Plains had a negative return on equity of 4.94% and a negative net margin of 1.64%. The firm had revenue of $618.83 million during the quarter, compared to the consensus estimate of $646.70 million. During the same quarter in the previous year, the firm earned ($0.89) EPS. The business’s quarterly revenue was down 27.8% compared to the same quarter last year. Analysts expect that Green Plains Inc. will post -0.95 earnings per share for the current year.

Institutional Trading of Green Plains

Several large investors have recently modified their holdings of the business. Mutual of America Capital Management LLC lifted its holdings in Green Plains by 6.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,071 shares of the specialty chemicals company’s stock worth $256,000 after buying an additional 655 shares during the period. Inspire Investing LLC raised its position in shares of Green Plains by 4.1% in the 1st quarter. Inspire Investing LLC now owns 17,200 shares of the specialty chemicals company’s stock worth $398,000 after purchasing an additional 675 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Green Plains by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the specialty chemicals company’s stock worth $515,000 after buying an additional 700 shares during the last quarter. Clearbridge Investments LLC lifted its position in Green Plains by 0.7% in the 2nd quarter. Clearbridge Investments LLC now owns 103,690 shares of the specialty chemicals company’s stock valued at $1,645,000 after acquiring an additional 739 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Green Plains by 9.7% during the first quarter. ProShare Advisors LLC now owns 12,013 shares of the specialty chemicals company’s stock valued at $278,000 after purchasing an additional 1,063 shares in the last quarter.

Green Plains Company Profile

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.