Green Plains (NASDAQ:GPRE) Shares Gap Up – Here’s What Happened

Green Plains Inc. (NASDAQ:GPRE)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $11.64, but opened at $12.93. Green Plains shares last traded at $13.47, with a volume of 460,958 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on GPRE. 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 research report on Monday, August 19th. Craig Hallum reduced their price objective on Green Plains from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Truist Financial lowered their target price on Green Plains from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. BMO Capital Markets dropped their price target on 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. Finally, Oppenheimer downgraded Green Plains from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.50.

Green Plains Stock Performance

The firm’s 50 day moving average is $12.82 and its 200-day moving average is $15.67. The stock has a market capitalization of $771.92 million, a price-to-earnings ratio of -16.58 and a beta of 1.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.11 and a current ratio of 1.68.

Green Plains (NASDAQ:GPRE) last issued its quarterly earnings data 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 analyst estimates of $646.70 million. During the same quarter last year, the company posted ($0.89) EPS. The company’s revenue was down 27.8% on a year-over-year basis. Analysts forecast that Green Plains Inc. will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Green Plains

A number of hedge funds have recently bought and sold shares of GPRE. Vanguard Group Inc. raised its stake in shares of Green Plains by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,213,549 shares of the specialty chemicals company’s stock worth $106,266,000 after buying an additional 53,320 shares during the period. Clifford Capital Partners LLC purchased a new stake in Green Plains in the 1st quarter worth $7,688,000. Thomist Capital Management LP acquired a new position in Green Plains during the second quarter worth $1,011,000. Swiss National Bank lifted its holdings in Green Plains by 14.1% during the first quarter. Swiss National Bank now owns 120,400 shares of the specialty chemicals company’s stock valued at $2,784,000 after purchasing an additional 14,900 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Green Plains by 278.7% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 140,500 shares of the specialty chemicals company’s stock valued at $2,228,000 after purchasing an additional 103,400 shares during the period.

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.