Why Aemetis Stock Is Plunging Today
Shares of Aemetis (NASDAQ: AMTX) tumbled more than 21% by 2:30 p.m. EDT on Wednesday. Weighing on the renewable-fuels company was its disappointing first-quarter results.
Aemetis generated $42.8 million of revenue during the first quarter, solely from ethanol sales. While that was up 8.4% year over year, it missed the consensus estimate by $6.3 million. Meanwhile, the company reported a loss of $0.69 per share, which missed analyst expectations by $0.16 per share.
While the company is benefiting from steadily rising ethanol sales volumes and pricing, margins were lower than the prior-year period. On top of that, its sales, general, and administrative expenses increased.
Source Fool.com
