Green Plains (NASDAQ:GPRE) Shares Down 5.8% – Here’s What Happened

Green Plains Inc. (NASDAQ:GPRE)’s stock price traded down 5.8% during mid-day trading on Tuesday . The stock traded as low as $10.68 and last traded at $10.70. 140,471 shares traded hands during trading, a decline of 87% from the average session volume of 1,107,603 shares. The stock had previously closed at $11.36.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com raised Green Plains from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Oppenheimer downgraded Green Plains from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. BMO Capital Markets cut their target price on shares of Green Plains from $22.00 to $17.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. UBS Group reduced their target price on shares of Green Plains from $26.00 to $23.50 and set a “buy” rating on the stock in a report on Monday, August 19th. Finally, Truist Financial dropped their price target 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, October 16th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Green Plains currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Green Plains Stock Down 5.4 %

The business has a 50 day simple moving average of $11.94 and a 200-day simple moving average of $14.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.78 and a quick ratio of 1.16.

Institutional Trading of Green Plains

Several hedge funds have recently added to or reduced their stakes in GPRE. Louisiana State Employees Retirement System raised its holdings in shares of Green Plains by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the specialty chemicals company’s stock worth $515,000 after purchasing an additional 700 shares during the period. Clearbridge Investments LLC raised its stake in shares of Green Plains by 0.7% in the second quarter. Clearbridge Investments LLC now owns 103,690 shares of the specialty chemicals company’s stock valued at $1,645,000 after buying an additional 739 shares during the period. New York State Teachers Retirement System lifted its position in shares of Green Plains by 2.3% during the 3rd quarter. New York State Teachers Retirement System now owns 62,254 shares of the specialty chemicals company’s stock valued at $843,000 after buying an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Green Plains by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,917 shares of the specialty chemicals company’s stock worth $221,000 after acquiring an additional 1,456 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Green Plains in the 2nd quarter worth about $29,000.

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.