Green Plains Inc. (NASDAQ:GPRE) Sees Large Decline in Short Interest

Green Plains Inc. (NASDAQ:GPRE) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 6,500,000 shares, a decline of 8.2% from the September 15th total of 7,080,000 shares. Based on an average daily volume of 946,700 shares, the short-interest ratio is presently 6.9 days.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Craig Hallum cut their target price on Green Plains from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets cut their price objective on Green Plains from $22.00 to $17.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Oppenheimer cut Green Plains from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. UBS Group dropped their price target on shares of Green Plains from $26.00 to $23.50 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, Truist Financial reduced their price objective on shares of Green Plains from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Green Plains Stock Performance

NASDAQ GPRE opened at $11.94 on Friday. The company’s fifty day moving average is $13.30 and its two-hundred day moving average is $16.52. Green Plains has a 52-week low of $11.63 and a 52-week high of $31.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.68 and a quick ratio of 1.11. The firm has a market capitalization of $771.23 million, a price-to-earnings ratio of -9.70 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). The firm had revenue of $618.83 million for the quarter, compared to analyst estimates of $646.70 million. Green Plains had a negative return on equity of 4.94% and a negative net margin of 1.64%. The firm’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same period last year, the business earned ($0.89) earnings per share. Equities research analysts forecast that Green Plains will post -0.95 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GPRE. Point72 Hong Kong Ltd bought a new position in shares of Green Plains during the 2nd quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Green Plains in the second quarter worth about $41,000. nVerses Capital LLC bought a new position in Green Plains during the third quarter worth about $65,000. Crewe Advisors LLC acquired a new stake in Green Plains during the first quarter valued at approximately $150,000. Finally, DRW Securities LLC bought a new stake in shares of Green Plains in the 2nd quarter valued at approximately $168,000.

About Green Plains

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.