Aemetis Gets a Hold Rating from B.Riley FBR

By Jason Carr

B.Riley FBR analyst Carter Driscoll reiterated a Hold rating on Aemetis (NASDAQ: AMTX) today and set a price target of $2. The company’s shares closed on Friday at $0.77, close to its 52-week low of $0.53.

Driscoll commented:

“AMTX delivered in-line 3Q revenues, but missed our EPS estimate of ($0.24) by $0.14, on lower volumes and higher opex to build out an integrated cellulosic demonstration unit. We saw some positive developments with the company’s progress towards commercializing a unique enzymatic process (using certain cheap waste feedstocks) for biodiesel production and also the production of cellulosic ethanol domestically. In India, management does expect biodiesel volumes to grow in 4Q17 after stalling in 3Q17 with an unforeseen Goods and Services (GST) tax increase to 18% from 11% (was raised as biodiesel was included in a broad swath of rate hikes on chemicals). AMTX believes it was a legislative oversight that should soon be rectified. Conversely, there was not any progress on lowering interest expense or any material update on litigation with Edeniq.”

According to TipRanks.com, Driscoll is a 1-star analyst with an average return of -0.8% and a 38.7% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and P10 Industries Inc.

Aemetis has an analyst consensus of Hold, with a price target consensus of $2.

The company has a one-year high of $2.50 and a one-year low of $0.53. Currently, Aemetis has an average volume of 36.26K.

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Aemetis, Inc. is a renewable fuels and biochemicals company, which focuses on the production of advanced fuels and chemicals through the acquisition, development, and commercialization of technologies. The company operates through the North America and India geographical segments.