Analyst Jordan Levy of Truist Financial maintained a Hold rating on Aemetis (AMTX – Research Report), with a price target of $5.00.
Jordan Levy from Truist Financial has given a Hold rating for Aemetis (AMTX) due to various reasons. Levy points out that Aemetis’s third-quarter revenue and EBITDA were below his and the street’s estimates, which might have contributed to the Hold rating. However, he also notes that the company’s EPS was better than expected due to the sale of IRA investment tax credits associated with Aemetis’s biogas subsidiary. Also, the company expects the combined biogas, ethanol, and biodiesel businesses to shift to positive cash flows in the fourth quarter, which is a positive sign for the company’s future.
Levy further notes that Aemetis has achieved significant milestones recently, such as commencing D3 RIN sales for biogas and expanding production capacity in India. Despite the lower than expected third-quarter results, this positive news may impact future financial performance positively. Additionally, the company’s ongoing projects, such as Riverbank SAF/RD and AMTX’s carbon capture initiatives, could contribute to the company’s growth. Despite the missed targets, Levy anticipates that the company’s shift to positive operating cash flows will be well-received.
AMTX’s price has also changed dramatically for the past six months – from $1.930 to $4.610, which is a 138.86% increase.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Aemetis (AMTX) Company Description:
Aemetis, Inc. operates as a renewable fuels and biochemicals company. The firm focuses on the acquisition, development, and commercialization of technologies that replace traditional petroleum-based products by the conversion of ethanol and biodiesel plants into biorefineries. It operates through the North America and India segments. The North America segment comprises of the Keyes Plant in California, the cellulosic ethanol facility in Riverbank, the cluster of biogas digesters on dairies near Keyes, the Goodland Plant, and the research and development facility in Minnesota. The India segment includes the Kakinada plant, administrative offices in Hyderabad, and holding companies in Nevada and Mauritius. Its products include glycerin, ethanol, food and feed, biodiesel, and edible oils. The company was founded by Eric Armstrong McAfee in 2005 and is headquartered in Cupertino, CA.
Read More on AMTX:
